The State Bank eased the Foreign Exchange Regulation's rules for importing medical equipment, including devices and medicines, in view of the situation arising from the Coronavirus.
According to the State Bank's declaration, the Central Bank has imposed on the import of medical devices, medicines and other related items for the treatment of the Coronavirus to some extent, including all federal and provincial government departments, government, private sector hospitals, welfare agencies. Commercial importers were allowed the Import Advance Payment and Import on Open Account.
In addition, it allowed banks to approve electronic import forms (EFFs) for the import of donations made by international donor agencies and foreign governments.
It should be noted that this move by the central bank was taken in view of the increasing number of people infected with the Coronavirus in the country.
Effective strategies for tackling the virus require timely availability of the necessary equipment, the State Bank said.
The central bank said that in view of the extreme spread of the deadly virus, the State Bank has taken these steps so that the necessary equipment can be imported.
The State Bank has also made amendments to its Foreign Exchange Regulations regarding the importation of goods under advanced payments and open accounts.