The State Bank of Pakistan (SBP) has deferred some requirements for the Afghan Transit Trade (ATT) until December 31, 2022.

The requirements of submission of proceeds realization certificate for freight and container detention charges for consignment of Afghan Transit Trade and maintenance of separate PKR account by shipping companies/agents for accepting container detention charges was deferred until March 31, 2022.

Now the SBP has decided to further defer these requirements for next nine months to facilitate the ATT. Considering the prevailing situation in Afghanistan, SBP has been decided to further defer the requirements of submission of proceed realization certificate for freight and container detention charges in respect of consignment of Afghan Transit Trade, as mentioned in Para 4((i(n)) & 4A((ii(g)), Chapter 14 (Commercial Remittances) of Foreign Exchange Manual, and maintaining separate PKR account by shipping companies/agents for accepting container detention charges, as mentioned Para 4A(i), Chapter 14 ibid until December 31, 2022.

The SBP has advised the authorized dealers to bring these developments to the notice of all their constituents for meticulous compliance.

The story was originally published in Business Recorder on April 05, 2022.