All Authorised Dealers
in Foreign Exchange

Dear Sirs,

HALF YEARLY STATEMENTS SUBMITTED BY THE INDENTING HOUSES/AGENTS

Attention is invited to the instructions contained in paragraph 2(i) Chapter XXI of the Foreign Exchange Manual (7th Edition, 1992) in terms of which Indenting Houses/Agents are required to file with State Bank of Pakistan half yearly statements of their commission earnings in foreign exchange on (Appendix V-98).

2. It has since been decided that the small Indenting Houses/Agents whose indenting income does not exceed Rs.5,000,000(Rs. five million) per annum are not required to submit the above statement to the State Bank of Pakistan.

3. Consequent upon the above decision a new sub-para (c) may be added after para 2(i)(b), Chapter XXI of the Foreign Exchange Manual (7th Edition, 1992) as under:-

(c) The statements/documents as provided in sub-paragraph 2(i)(a) and 2(i)(b) will not be required to be submitted by the Indenting Houses/Agents whose indenting income does not exceed Rupees five million per annum

4. Please bring the above change to the notice of your constituents.