KARACHI: The State Bank of Pakistan (SBP) has proposed a framework to facilitate Pakistani exporters in selling products in global digital markets.
According to the details, Bank Daulat Pakistan has proposed changes in the regulatory guidelines for exporting products from Pakistan, continuing the agenda of modernizing the exchange regulations, with the aim of simplifying the existing guidelines and conducting business. Promoting ease.
The most important proposed amendments include a framework to facilitate Pakistani exporters to sell their products in international digital markets including Amazon, eBay, Alibaba under the Business to Business to Consumer (B2B2C) e-commerce model.
The amendments required in the export regulations for the implementation of the ‘Pakistan Single Window Project’, which will remove the requirement of Electronic Form E, are also part of the revised draft.
Similarly, in some other areas, it has been suggested that the condition of regulatory approval required from the SBP be handed over to the banks to facilitate the business community.
The proposed amendments are part of the SBP’s broader agenda, which aims to review existing foreign exchange regulations to adapt to changing market dynamics, business needs and global trade traditions.
In the process, 11 chapters of the Foreign Exchange Manual have already been reviewed in consultation with the banking industry and the business community.