Exporters asked to bring proceeds within 120 days.

The State Bank of Pakistan (SBP) has amended foreign exchange regulations following which exporters are liable to bring export proceeds within a maximum period of 120 days from the date of shipment.

According to a statement issued on Wednesday, the objective of the decision is to improve the inflow of foreign exchange from export proceeds in the market.

"Earlier, exporters were required to bring export proceeds within a maximum period of 180 days," it said. "This move also brings Pakistan's regulations closer to international best practices."

It is pertinent to mention that in the recent past, the SBP introduced a number of policy measures in its foreign exchange regulations to...