Kindly refer
to BPRD Circular No. 23 dated 2nd July, 1998 (as
modified from time to time latest being BPRD Circular No.
45 dated 22nd December, 1998) as also F. E. Circular
No. 12 dated 29th May, 1998 (as modified from time
to time) on the above subjects.
We are informed that the Hon’able Lahore High Court has
pronounced the judgment in various intra court appeals end
writ petitions pertaining to the an above subjects. A firm
decision has been taken on the basis of legal advice that
this is a fit case for appeal to the Supreme Court. Instructions
for filing an appeal have already been issued and it is expected
that it will be lodged shortly. Pending this no further action
may be taken by you pursuant to the above mentioned BPRD Circulars.
Any application received in the meantime for withdrawal in
Foreign Currency from the Foreign Circulars or for profit/encashment
of FEBCs, FCBCs, DBCs and premature encashment of Special
U. S. Dollar Bonds in foreign currency may be referred to
our Foreign Exchange Department.
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