Regulatory Alerts2022-07-07
Added
FEPD Circular Letter No. 22: Import of capital machinery on usance basis
The Scrutiny committee on foreign loan/supplier’s credit in private sector under BIDA accords general authorization for the extension of usance period or refinancing for a maximum of 360 days from the maturity date against the import of capital machinery. This facility applies to industrial enterprises registered with BIDA or DOT for LCs opened or valid contracts initiated up to December 31, 2022, provided the extended period does not exceed December 31, 2024. Authorized Dealers are instructed to allow eligible importers to extend the maturity period up to this authorized limit, which applies to first-time approval from an existing usance period of 360 days.
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