The federal government has provided a temporary exemption for exporters from the necessity of bank guarantees and letters of credit for exports through Iran.
This decision was made following the directives of Federal Minister for Commerce Jam Kamal Khan, as stated in an official announcement on Saturday.
As per the announcement, the Ministry of Commerce has approved a temporary exemption from financial instruments for exports to Iran and Central Asian nations, thereby permitting exports to Iran, Azerbaijan, and Central Asian countries via land routes.
The exemption for exports from Pakistan to Iran is valid for a period of three months, starting from March 24 to June 21, 2026, as stated by Jam Kamal.
The minister indicated that this initiative aims to assist exporters and enhance regional trade.
The export of various goods to Iran has been authorised, including rice, seafood, potatoes, meat, onions, sweetcorn, and fruits. Additionally, the concession encompasses the export of pharmaceutical products and tents.
Furthermore, the government has provided a partial exemption from State Bank regulations, although the requirement to repatriate export earnings within the designated timeframe remains intact, as noted in the statement.
Iran allows ships under Pakistani flag to pass through Strait of Hormuz
Earlier, Deputy Prime Minister and Foreign Minister of Pakistan, Ishaq Dar, confirmed that the Government of Iran has agreed to allow 20 additional Pakistan flagged ships to pass through the Strait of Hormuz, with two vessels set to transit the strait daily.
He added that the move would help strengthen collective efforts that are aimed at de escalation of the current situation and confidence building in the region.
Read more: Iran agrees to allow 20 more ships under Pakistani flag to pass through Strait of Hormuz: Ishaq Dar
