Import of Small Quantity of Material made easier on Open Account Basis 
Reform ID  F077 
 

Reform Description  

 Before: Import of material in small quantities was subjected to stringent regulations under the Foreign Exchange Manual.  

After:  Industry friendly policies have been introduced to allow small quantity import of material on an open account basis.  
Sector   All Sectors 
Beneficiaries  All Businesses 
Jurisdiction/Location   Federal (Entire Pakistan) 
Department  SBP 
Date of Implementation   01-01-2019 
Timeline  Last 03 Years  
Details   

Difficulty 
  • Businesses were unable to import the material in small quantities due to cumbersome regulatory process. 
 

Analysis 
  • It was felt that regulation for imports of material in small quantities should be revised to facilitate the small importers. 
 

 

 

 

Solution  
  • Accordingly, manufacturing & industrial concerns and commercial importers have been allowed under para 17, chapter 13 of Foreign Exchange Manual to make payments on an Open Account basis for imports of spare parts/raw materials only for the ultimate use by the manufacturing / industrial concern. 
  • SBP has also allowed advance payment up to USD 25,000/- per invoice to manufacturing & industrial concerns and commercial importers for import of raw material, spare parts and machinery for ultimate use by manufacturing & industrial concerns (Para 30, Chapter 13 of Foreign Exchange Manual).  
 

Evidence  

 Para 17, Chapter 13 (https://www.sbp.org.pk/fe_manual/pdf/2020/Chp-13.pdf   

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