All Authorized Dealers
In Foreign Exchange,

Dear Sirs,

RELEASE OF FOREIGN EXCHANGE FOR TRAVEL ABROAD

Attention is invited to Para 1 (iv) of F.E. Circular No. 65 of 1993 in terms of which foreign Exchange in the shape of currency notes is to be released to the travelers intending to perform journey through land route upto US$ 100/- only and the balance is to be released in the shape of travelers cheques.

2. It has now been decided that with immediate effect the above restriction of release of foreign exchange only upto US$ 100/- in the shape of currency will also apply to all other types of travel i.e. journeys to be undertaken through ship/Air. Authorized Dealers are, therefore, advised to issue subject to entitlement, foreign exchange to Pakistan nationals (above the age of 12 years) resident in Pakistan on account of Private Travel Exchange Quota (PTEQ) in the shape of currency notes upto US$ 100/- only while the balance of the foreign exchange quota should be released in the shape of Travelers Cheques, T.T., M.T. or Draft etc. as laid down in para 44 Chapter XVII of the Foreign Exchange Manual. In case of children between 2 and 12 years, US$ 50/- per head may be released in the shape of currency notes and the balance in travelers cheques, T.T., N.T., Draft