Under
the existing banking practice and procedure, banks in
Pakistan accept Dills of Lading, Airway Dills, Railway
or Truck receipts or any other documents of title to
cargo which indicate that the goods have bean loaded on
board or shipped on a named vessel and that the same has
been issued by the carrier itself or by its authorised
agent. It has now been decided allow the Authorised Dealers
to accept House Airway Bills in case of air cargo and
House Bills of Lading in case of sea cargo, issued by
the Cargo Forwarders in Pakistan. In this context, it
is clarified that only those Pakistani Cargo Forwarders
who are approved members of FIATA and registered with
Investment Promotion Bureau, Government of Pakistan as
Consolidators and actively engaged in Break bulk of air/sea
cargo in Pakistan/collaboration with their counterparts
abroad will be allowed to handle consolidation/break‑bulk
of cargo.
2.
The effect of this change will be that hence forth
Airlines/Shipping Companies/Shipping, Agents will be able
to issue Master Airway Bills/Master Bills of Lading for
such "consolidated shipments"
being made against advance payment or irrevocable
letter
of
credit which contains a provision for, issuing title documents
under Cargo Consolidation System showing consolidators
as shippers and their Break‑bulk agents abroad as
consignees In respect of Pakistan exports cargo on C&F
basis they (carriers) will also collect freight in rupees
without the prior approval of the State Bank as per procedure
prescribed in para 27 Chapter of the Exchange Control
Manual on the basis of a certificate to on APP-V‑14A
issued by the 4 Authorised Dealers. however, while reporting
such freight collection
to the State Bank in terms of paragraph I Chapter
XIV of Exchange Control Manual, the Airliners/Shipping
companies/shipping Agents must submit alongwith the monthly
Export Freight Manifests a copy of manifest of Consolidators
showing therein all House Airway House Bills of Lading
issued by them, freight collected from each exporter,
payments made to local transporters and freight
paid to the concerned Airlines/Shipping Company/Shipping
Agent in Pakistan.
3.
Accordingly, the following amendments. may be made
in the Exchange, Control Manual:-
(i)
A new Para 2-A in Chapter XIV nay be added
as under:-
“2-A.
Cargo Consolidators/Forwarders who are approved members
of FIATA and registered with Investment Promotion Bureau
Government of Pakistan as such, may accept freight
in rupees without the prior approval
of the State Bank only in respect of Pakistani Exports
Cargo on C&F/CIF basis as per procedure prescribed in paragraph 27-Chapter
XII of the Exchange Control
Manual provided the consignment being dispatched against
Advance Payment or an irrevocable letter of credit which
contains a provision for issuance of 'document of title
under Cargo Consolidation System and a certificate to
this effect issued by the Authorised Dealer on.App.V-14A
is produced".
(ii)
The following may be added, as item (h) under paragraph
1(ii) of
Chapter XIV
“(h)
A copy of manifest of Cargo Consolidators together with
relative nonnegotiable copies of house Bill of Lading
or/ House Airway Bill (quoting reference of original Master
Bill of Lading or Master Airway Bill issued by them, with
names of each shippers), “E” form certificates prescribed
vide para 27 Chapter XII of Exchange Control Manual and
encashment certificate where freight is paid in foreign
exchange separately".