SBP says it has not stopped import payments
ISLAMABAD – The State Bank of Pakistan (SBP) on Tuesday clarified that it had not stopped import payments and the commercial banks also had sufficient foreign exchange reserves for the purpose. “The SBP has noticed certain rumours implying that SBP reserves have dried up or are not usable, and that the SBP has stopped import payments, and the banks have run out of US$”, the official twitter handle of SBP said. “It is clarified that as of June 10, 2022, the SBP liquid foreign reserves stood at $8.99 billion. These do not include gold reserves, and are fully usable for all purposes,” it added. Indeed, import payments of around US$ 4.7 billion had been executed through the interbank market during the month so far, the SBP added.