KARACHI, May 14: The Export Advisory Committee of the State Bank has decided to close those cases of overdue export proceeds wherein the importers' companies have been liquidated.

The decision was taken at a meeting of the committee held at the SBP head office here on Thursday. Dr. Mirza Ikhtiar Baig who heads banking committee of the Federation of Pakistan Chambers of Commerce & Industry represented the exporters.

According to an FPCCI press release, the committee examined 531 cases of overdue export proceeds pertaining to the exporters of Sindh and Balochistan. It decided to serve final notices on the exporters in most cases. Overdue export proceeds refer to the foreign exchange the exporters do not report into their accounts within the permissible period.