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

Dear Sirs,

IMPORT LC –PORT OF DISCHARGE

Attention of Authorized Dealers is invited to Para 10, Chapter XIII of the FEM, 8th Edition, 2002 which contains terms, on which Letter of Credits may be opened.

2. It is advised that while opening import Letter of Credits, port of discharge should be specified as either Keamari, Karachi or Port Qasim, Karachi under importer’s specific instructions. The mention of “any port in Pakistan” or “Karachi” as the port of discharge should be avoided unless specifically required in the underlying contract giving option to the foreign exporter in respect of the port of discharge.

3. Authorized Dealers are advised to bring the above to the notice of their constituents.

Endt. No. 3-A /EPP-2 (47) Poly-2004 of date.

Copy forwarded for information to: -

(i). The Director, EPD, SBP, BSC (Bank), Karachi with a request to please circulate the above in his Area Offices.
(ii). The Director, Accounts Department, SBP, Karachi.
(iii). The Director, Banking Inspection Department, SBP, Karachi
(iv). The Director, Banking Policy Department, SBP, Karachi.
(v). The Director, Banking Supervision Department, SBP, Karachi
(vi). The Director, Statistics Department, SBP, Karachi.

p.Director