The State Bank of Pakistan (SBP) has proposed regulatory changes to make it easier for Pakistani exporters to sell their goods on foreign digital marketplaces.
The State Bank of Pakistan has suggested revisions to its regulatory guidelines for exports of goods from Pakistan, as part of its aim of modernising foreign exchange laws. By streamlining the current instructions, these revisions aim to promote ease of doing business. The proposed revisions include a framework for assisting Pakistani exporters in selling their products on worldwide digital marketplaces such as Amazon, e-Bay, and Ali Baba under the Business to Business to Consumer (B2B2C) e-Clause.
The new draught also includes changes to export laws needed to implement the Pakistan Single Window Project, which would eliminate the need for the Electronic Form-E. Similarly, regulatory clearances from the SBP have been proposed to be delegated to banks in various other areas to help the business community.
The Foreign Exchange Manual’s Chapter 12 contains the most recent modifications to foreign exchange instructions relevant to exports.
For any further value addition/improvement, State Bank promotes and welcomes feedback/suggestions from the business community, banking industry, and other stakeholders on the revised draught of Chapter-12 (Exports) of the FE Manual. Please submit your feedback/suggestions by Sunday, June 20, 2021 at the latest.