In a bid to ease crisis, SBP advises banks to 'provide one-time facilitation' to importers.

In an attempt to ease the ongoing import crisis, the State Bank of Pakistan (SBP) on Monday removed the requirement of obtaining prior approval for imports falling under HS code chapters 84 and 85 and certain items falling under HS code chapter 87 - that deal with machinery and electrical equipment - of the Pakistan Customs Tariff.

Instead, the SBP issued a general guidance to the banks to prioritise the import of certain categories such as food, pharmaceuticals, and energy.

The central bank's decision comes days after businessmen flayed SBP Governor Jameel Ahmad in a town-hall meeting for...