GOVERNOR STATE BANK’S ANNOUNCEMENT TO EXTEND THE CUT-OFF DATE OF EPD CIRCULAR NO. 01 OF 2023
On March 09, 2023, Mr. Abdul Ghafoor Malik, President Sialkot Chamber of Commerce & Industry attended the inauguration ceremony of the new State Bank of Pakistan building in Sialkot. On the occasion, the President had a one-on-one meeting with the Honorable Governor State Bank of Pakistan Mr. Jameel Ahmed wherein multiple issues of the industry were discussed including but not limited to the extension in EPD CIRCULAR NO. 01 OF 2023 (OVERDUE PAYMENTS), Facilitation in the import of raw material for the export sector, expedited approval of EXIM Bank of Pakistan, offering of Credit Insurance by the Commercial Banks against Export Shipments, and issuance of Credit Cards to Corporates.
The President Chamber shared that the cut-off date of March 01, 2023, prescribed under the circular EPD CIRCULAR NO. 01 OF 2023, was too early, and the same should be extended to at least 6 months to allow the exporters to settle their overdue cases.
On the occasion, Mr. Jameel Ahmed, Honorable Governor of the State Bank of Pakistan announced that a 06 months extension would be given on the cut-off date of the EPD Circular No. 01, 2023 allowing the exporters an ample amount of time to settle their overdue proceeds. The Governor shared that a relevant circular in said regard would be issued in the month of March 2023.
Mr. Abdul Ghafoor Malik thanked the Governor State Bank of Pakistan for the most positive announcement made in the greater interest of the export sector. He assured that the exporters with overdue proceeds due to genuine reasons would conveniently be able to settle their accounts with the announced extension.
March 09, 2023