Exports to Iran, Central Asian Republics Exempted From LCs/bank Guarantees

Pakistan allows exports to Iran with temporary trade relief measures

Pakistan has allowed the export of multiple goods to Iran including rice, seafood and pharmaceutical products. Taking an important step to enhance trade with Central Asian countries, Pakistan has granted a temporary exemption from the requirement of bank guarantees and letters of credit for exports via Iran. According to the official statement, the Ministry of Commerce has approved a temporary exemption from financial instruments for exports to …

Pakistan Eases Export Banking Rules for Regional Trade

Pakistan grants temporary banking exemption for exports to Iran, Central Asia and Azerbaijan to boost regional trade. The Ministry of Commerce has approved a temporary exemption from key financial requirements for exports to Iran, Central Asian Republics and Azerbaijan via Iran’s land route. Issued under the Import and Export Control Act 1950, the measure waives the requirement for financial instruments such as bank guarantees and letters of cre…

Exports to Iran, Central Asian Republics exempted from LCs/bank guarantees

ISLAMABAD: In a major policy decision, the government has exempted exports to Iran and Central Asian Republics via land routes from the requirement of bank guarantees and letters of credit, aiming to facilitate exporters and boost regional trade. The Ministry of Commerce issued a notification in this regard on the directives of Commerce Minister Jam Kamal Khan. According to the notification, a temporary exemption has been granted from the requir…