All
Authorised Dealers
in Foreign Exchange,
Dear
Sirs,
TRAVEL
ABROAD
Attention is
invited to paragraphs 17,
18
and 25
chapter
XVII of Foreign Exchange Manual (7th Edition,
1992) in terms of which powers have been delegated to Authorized
Dealers to sell foreign exchange to Pakistan nationals resident
in Pakistan for travel abroad without prior approval of
the State Bank on production of the following:-
- Passport.
- National Identity
Card in original.
- Ticket.
- 'T-1'
form duly completed and signed by the applicant.
Further, as
laid down in paragraph
43 of the said Chapter, the amount of foreign exchange
sold by the Authorized Dealers together with the date on
which the sale is made is required to be recorded on the
travelers passport under their stamp and signature.
The exchange issued is also required to be endorsed on the
travelers air / steamer ticket.
2. It has now
been decided that with immediate effect the Authorized Dealers
will retain the photo copies of pages 1, 2, & 3 with
inside title page and that page of the passport on which
endorsement of release of foreign exchange is made and first
coupon of the air / steamer ticket and present the same
to the Inspection Teams deputed by the State Bank of Pakistan.
In case any Authorized Dealer fails to produce these documents
in respect of any case of release of foreign exchange reported
by it, will have to encash Foreign Exchange Bearer Certificates
in Pakistan rupees to the extent of the amounts released
in foreign exchange without the cover of the said documents.
3. Authorized
Dealers may please note that above instructions for strict
compliance and bring the same to the notice of their all
branches dealing in foreign exchange.
4. Meanwhile
please acknowledge receipt.