The Head Offices/Principal Offices of all
Authorized Dealers In Foreign Exchange

Dear Sir,

REPORTING - PURPOSE OF REMITTANCE

In terms of Para-7 [Schedule ‘J’ (Appendix V-107)] Chapter XXII of Foreign Exchange Manual (Eighth Edition), the amounts upto Rs 10,000/- received for purposes other than ‘Family Maintenance Remittances’ and all remittances received as ‘Family Maintenances Remittances’ irrespective of the amounts are required to be reported by the Authorized Dealers on Form IRV. All such Inward Remittances sent by individuals from abroad in favour of individuals in Pakistan are treated as ‘Un-requited Transfer – Family Maintenance, unless voluntarily disclosed by the beneficiary to be for some other purpose.

2. In order to save the beneficiaries of small inward remittances from the requirement of filling forms, which are required exclusively for the statistical purposes, it has now been decided to extend this facility upto US$ 10,000/- (or equivalent in other currencies). Accordingly, the words “Rs 10,000/-” mentioned in Para-7 Chapter XXII of the Foreign Exchange Manual (8th Edition), against “Schedule J (Appendix V-107)”, may be replaced with the words “US$ 10,000/- (or equivalent in other currencies)”.

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