Daily Archives: September 16, 2017

FPCCI laments non-payment of refunds against RPOs issued up to April 2017

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KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has lamented on non-issuance of refunds despite assurance of the finance minister that Refund Payment Orders (RPOs) issued prior April 2017 will be paid.

SBP issues procedure for making import payment on open account basis

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KARACHI: In the wake of successful implementation of Electronic Import Form (EIF) module, it has been decided to do away with the requirement of submission of original shipping documents for making payment against goods imported on open account basis (open account includes import transactions in which documents have been received by importer or AD directly from the foreign supplier), the State Bank of Pakistan (SBP) said on Friday.