The Ministry of Commerce has approved a 60-day temporary relaxation for the export of specified goods to Iran, easing the mandatory requirement of submitting financial instruments under Clause 3 of the Export Policy 2022. According to sources, Commerce Minister Jam Kamal authorized the decision to address difficulties faced by exporters due to the absence of a direct banking channel with Iran.
Scope of the Relaxation
The relaxation applies from July 2 to August 30, 2026, and covers specific items. Exporters shipping bananas, mangoes, and meat to Iran via air will benefit, while exports via land routes—including rice, potatoes, meat, gelatin, maize, sesame, and animal feed—also fall under the concession. Additionally, Pakistani exporters shipping rice to Central Asian countries and Azerbaijan via Iran are eligible.
Background of Export Policy 2022
Under Clause 3 of the Export Policy 2022, all exports are ordinarily conducted in accordance with the State Bank of Pakistan's (SBP) foreign exchange regulations, requiring exporters to submit relevant financial instruments. However, due to the lack of a direct banking system with Iran, the government has relaxed this requirement for a limited period.
Government Clarification
The government clarified that this temporary easing does not mean other foreign exchange regulations have been withdrawn. The move is specifically aimed at facilitating trade with Iran, which faces unique banking constraints.
