Overview
- The Commerce Ministry’s three-month waiver, effective March 24 to June 21, lets exporters ship to Iran and onward to Azerbaijan and Central Asian states without letters of credit or bank guarantees.
- The policy allows rice to move through Iran to reach Central Asia and Azerbaijan and permits exports to Iran of seafood, potatoes, meat, onions, maize, citrus, bananas, tomatoes, frozen chicken, pharmaceuticals and tents.
- Exporters must still repatriate earnings within the standard deadline and file an undertaking that confirms the proceeds will arrive on time.
- The exemption was issued under the Import and Export Control Act 1950 and temporarily relaxes a 2022 rule that tied exports to State Bank foreign-exchange procedures constrained by Iran-related banking hurdles.
- Pakistan’s ambassador to Iran says bilateral and transit trade remain operational, with “green channels” at border crossings that speed cargo despite regional tensions.