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100% cash margin imposed on import of mobile phones, vehicles, other consumer items

KARACHI: State Bank of Pakistan (SBP) has imposed 100% cash margin requirement on import of certain consumer items including mobile phones and motor vehicles. This regulatory measure would, interalia, discourage the import of these items and would have nominal impact on the general public, a SBP release said. SBP imposed the cash margin in exercise of powers entrusted to it under Banking Companies Ordinance, 1962. The SBP statement said the requirement of 100% cash margin has been prescribed on items such as motor…