The Ministry of Commerce has introduced a temporary 60-day exemption from certain export requirements for selected goods destined for Iran, aiming to facilitate trade despite the absence of formal banking channels between the two countries.

According to official sources, the relaxation was approved by Federal Minister for Commerce Jam Kamal under Clause 3 of the Export Policy Order 2022. The exemption will remain effective from July 2 through August 30, 2026.

During this period, exporters of specified products will not be required to fulfill the usual condition of receiving payments through banking channels. The ministry has also granted temporary relief from submitting certain financial instruments normally required under the export policy.

Officials said the measure has been introduced to prevent disruptions to exports, as the lack of direct banking links with Iran has made compliance with standard payment procedures difficult.

The exemption applies to bananas, mangoes, and meat exported to Iran by air. For overland trade, it covers rice, potatoes, meat, gelatin, maize, sesame, and livestock feed.

The facility will also extend to exporters shipping rice to Central Asian states and Azerbaijan through Iranian territory.

The ministry clarified that the relaxation applies only to the payment mechanism. Exporters must still ensure that export proceeds are repatriated to Pakistan in line with the State Bank of Pakistan’s foreign exchange regulations and submit a written commitment to bring the funds back within the prescribed timeframe.

A formal notification has been issued to implement the decision.

Officials emphasized that the move does not signify the restoration of full banking relations with Iran or approval of unrestricted financial transactions. Instead, it is a limited, time-bound measure covering specific export categories, while all existing foreign exchange regulations remain in force.