The barriers in currency exchange for import and export have been removed.
The government has allowed banks to operate freely in currency exchange matters. Federal Minister for Investment Qaiser Ahmed Sheikh said reforms have been made in the State Bank of Pakistan (SBP), Securities and Exchange Commission of Pakistan (SECP) and Board of Investment to remove obstacles for investors. He said this should have been done 40 years ago. This week, unnecessary rules in the SBP and SECP were removed.
Sheikh said banks previously had to obtain many approvals from the SBP for import and export. The government has also secured parliamentary approval for the Easy Business Act. In the next phase, barriers in the FBR will be removed for businessmen.
