All Authorized Dealers in Foreign Exchange,
Exchange Companies & Pakistan Hotels Association.

Dear Sirs,

Selling of Foreign Currencies other than US Dollar, Pound Sterling and Euro to Exchange Companies by the Hotels under Restricted Authorization

In order to facilitate Hotels having restricted Authorization to deal in Foreign Currencies, it has since been decided to allow all such Hotels to sell the foreign currencies, collected by them in the normal course of business, other than US Dollar, Pound Sterling and Euro to any of the Exchange Companies established under F.E. Circular 09 dated July 30, 2002.