All Authorized Dealers
In Foreign Exchange,

Dear Sirs,

FOREIGN CURRENCY ACCOUNTS

It is clarified that, not withstanding the restrictions imposed vide F.E. Circular No. 12 of 1998 as amended from time to time, donations towards the "National Self Reliance Fund set up by the Government of Pakistan can be made from Foreign currency Accounts. The intending donor may draw a cheque payable to the "National Self Reliance Fund-1 and request his banker to pay the amount to the State Bank. The concerned bank will debit the account with the foreign currency amount, convert it into rupees at the rate of Rs 46 to a dollar (or as specified in F.E. Circular 12 of 1998 for other currencies), pay the same to the State Bank, reporting it as a donation in foreign currency, arrange cancellation of the forward cover, if any, and claim the exchange differential from the State Bank. In case the donor sends the cheque to the State Bank, it will be presented to the drawer bank for processing in a similar manner.