Warning about payment difficulties when exporting to the Pakistani market

09/07/2023

On January 24, 2023, the State Bank of Pakistan (SBP) announced the abolition of the regulation that import businesses must apply for foreign currency issuance before importing.

However, SBP issued new regulations effective until March 31, 2023, according to which Pakistani commercial banks are allowed to carry out procedures and release documents to import businesses for incoming shipments. port of Pakistan or delivered from January 18, 2023 or earlier, provided that the importing enterprise agrees with the partner to pay 180 days late or pay from a third country.


This is an urgent solution of the State Bank of Pakistan to deal with Pakistan's increasingly severe foreign currency shortage.

The Vietnam Trade Office in Pakistan recommends that Vietnamese export enterprises:
(1) Request the Pakistani partner to make payment from a third country;
(2) Report to competent state agencies to request banks to support the 180-day delayed payment method;
(3) Find other ways to consume to prepare for the situation when Pakistan defaults on its national debt and has no foreign currency to make payments.

 

 

Minh Toan

 

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