State Bank lifts curbs
ISLAMABAD: The State Bank of Pakistan (SBP) removed all curbs on imports to meet another major condition of the International Monetary Fund (IMF).
The SBP issued a circular late on Friday, lifting restrictions on imports based on the suggestions of stakeholders.
According to the circular, the requirement of preferential imports for accessing foreign exchange has been dropped.
A file photo of dollars as the State Bank lifted curbs on imports to meet IMF conditions.
The authorized dealers will supply foreign exchange without discrimination to importers.
Meanwhile, the banks will provide foreign exchange for the clearance of numerous containers.
The central bank has issued a circular to all banks, instructing them to lift the ban on such transactions.
PM Shehbaz meets MD IMF
Earlier, Prime Minister Shehbaz Sharif held a vital meeting with the managing director of the IMF Kristalina Georgieva and sought her help for the revival of the stalled program.
PM Shehbaz told the IMF chief that Pakistan has fulfilled all harsh conditions of the IMF and waiting for the resumption of the program.
Moreover, Minister of State for Finance Dr Aisha Ghous Pasha, Tariq Fatimi, and some other officials accompanied the prime minister during a meeting with the managing director of the IMF in Paris.
On Wednesday, Prime Minister left for Paris to attend a global summit along with his official delegation.
IMF program to end incomplete in six days
Meanwhile, before leaving for Paris on Wednesday, PM Shehbaz Sharif expected to hold a crucial meeting with the managing director of the IMF Kristalina Georgieva to seek her help for the resumption of loans.
The government requested the IMF officials to arrange a meeting of PM Shehbaz Sharif with the IMF Managing Director on the sidelines of the upcoming New Global Financing Pact Summit.
The two-day summit started in Paris today (June 22). Premier participated in this summit in Paris.
This was the last effort and if it ends in failure, the current incomplete IMF program will expire by June 30.
Importantly, the Pakistan government has fulfilled all IMF conditions except external financing. The government is insisting on the completion of the 9th review.
