In a circular addressed to Authorized Dealers, the State Bank of Pakistan (SBP) has withdrawn its advisory to prioritize certain types of imports/sectors.
“Attention of the Authorized Dealers is hereby invited to EPD Circular Letter No. 20 dated December 27, 2022, wherein an advisory was issued to the Authorized Dealers to prioritize certain types of imports/sectors,” reads the circular.
The circular said that in view of the representations received from various stakeholders, it has been decided to withdraw the above instructions with immediate effect. Furthermore, the instructions contained in EPD Circular Letter No. 09 dated May 20, 2022, and EPD Circular Letter No. 11 dated July 05, 2022, shall remain withdrawn.
It is pertinent to mention here that the circular in question directed the ADs to prioritize the imports of certain sectors. The priority list issued by the central bank put essential imports on top priority followed by energy imports, imports by export-oriented industry, imports for agriculture inputs, deferred payment/ self-funded imports, and imports for export-oriented projects near completion at the sixth and last slot.
