KARACHI: Public Bank has clarified that there is no restriction on opening of LC for import of oil, LPG and petroleum products.
According to the State Bank spokesperson, there are no restrictions on the import of oil and oil products, there are no (verbal) restrictions on opening letters of credit (LC) or import contracts for oil, LNG and oil products. ) is not taxed.
The State Bank spokesperson said that this false information is being spread for negative purposes to create uncertainty in the market, when in fact the State Bank is not responsible for the import of oil and gas products (including LNG). Is. Payments from reference banks as per the terms of the commercial documents agreement.
The statement also said that all LC oil import contracts will be executed through the interbank foreign exchange market immediately upon their expiry, meaning the country’s oil imports in September 2022 and October 2022 will be $1.48 respectively. billion and are $1.48 billion. .
