This is the seventh edition of the Foreign Exchange Manual. Since the publication of the last edition in 1987, a number of important changes have taken place as a part of comprehensive package of reforms aiming at de-regulation of the economy and creating a liberal environment for savings, investments and growth. These changes include freedom to bring, hold and take out foreign exchange, maintenance of foreign currency accounts by residents of Pakistan, dis-continuation of import licences for most of the commodities covered by the Import Policy, freedom to non-residents to purchase & sale shares / securities, removal of control over foreign exchange borrowings for setting up of a new industry or balancing / modernization / replacement of an existing industry, relaxation of the rules relating to purchase of technology, etc. As a consequence of these measures of de-regulation, the name of the department has also been changed from Exchange Control Department to Foreign Exchange Department.

The seventh edition has been published in two volumes for the convenience of the users. Volume-I consists of summary of instructions issued to Authorised Dealers, the Foreign Exchange Regulation Act, 1947, the Notifications issued thereunder by the Federal Government and State Bank of Pakistan and list of Authorised Dealers. Volume-II consists of specimen of the prescribed forms, list of Chambers of Commerce and Industry & Trade Associations authorised to recommend business travel cases and scales of daily allowances.