Circulars/Notifications - Banking Policy & Regulations Department  
 BPRD Circular Letter No. 25 of 2022
August 05, 2022

The Presidents/Chief Executive Officers,
All Banks

Dear Sir/Madam

Margin Restriction on Import of Items

  1. Please refer to BPRD Circular No. 02 of 2017, BPRD Circular No. 5 of 2018, BPRD Circular Letter No 9 of 2022 and other relevant instructions issued on the captioned subject from time to time, in terms of which banks were required to maintain 100 percent cash margin against certain items of import (HS codes), regardless of the mode of payment.

  2. In this regard, it has been decided to relax the 100 percent cash margin requirements where the credit terms of import are more than 90 days; accordingly, the banks shall obtain cash margins as per the revised percentages given in the below table:

    Term of Payment from Import

    Applicable Instructions for Cash Margin Requirement (CMR)

    91 to 180 Days


    181 Days and above


  3. Based on the tiered-approach in Para 2 above, the cash margin requirements shall be applicable on the PKR equivalent amount of the import transaction.

  4. It may be noted that the above instructions shall be applicable on all new import transactions initiated by the bank after the issuance date of this circular letter. However, on already initiated import transactions, the instructions may only be applied if the amendments (in terms of payment) are made subsequent to the date of the issuance of instructions in accordance with above table.

  5. The cash margins deposited by importers on all items subject to CMR would be non-remunerative.

  6. All other instructions on the subject shall, however, remain unchanged.

  7. Please acknowledge receipt.

Yours truly,


(Muhammad Akhtar Javed)

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