KARACHI: The State Bank of Pakistan (SBP) on Monday notified amendments to foreign exchange manual to eliminate Electronic Import Form for Pakistan Single Window (PSW).
The central bank in a statement on Monday said it was in the process of revising the foreign exchange regulations.
The primary objective of these revisions is to promote ease of doing business by simplifying the existing instructions. It will delegate more powers to banks to facilitate stakeholders. Â
The SBP has notified revisions in foreign exchange regulations for imports of goods into Pakistan (Chapter 13 of the FE Manual).
The key changes include amendment in existing regulations to facilitate import transactions through the forthcoming PSW facilities. The revision will eliminate the requirement of Electronic Import Form (EIF).
The SBP and Pakistan Customs implemented EIF Module in WeBOC system from September 1, 2016. EIF is an electronic declaration. Banks approve this declaration detailing payment information for import of goods.
Importers submit this form at the time of filing of Good Declaration.
Under the Pakistan Single Window (PSW) the form will no more require.
