Circulars/Notifications - Exchange Policy Department  
 F.E. Circular No. 11
January 30, 1994 

All Authorized Dealers
In Foreign Exchange,

Dear Sirs,

EXPORT OF CARPETS ON CREDIT BASIS

Attention of the Authorized Dealers in invited to F.E. Circular No.157 dated the 19th December, 1991 in terms of which export of hand-knotted carpets on DA, TR or Consignment sales basis was not permissible. It has now been decided by the Government to withdraw the said restriction and to reinstate the facility of export of hand-knotted carpets on DA, TR and consignment basis with immediate effect. Consequently, Authorized Dealers may henceforth certify Forms 'E' for export of carpets (hand-knotted and machine made both) from Pakistan on L/C, DP, DA, TR or Consignment Sales basis provided the sale proceeds are realized within the prescribed period of 4 months.

2. The export of carpets including hand-knotted carpets on credit beyond 4 months against irrevocable usance letters of credit or a guarantee of importer’s bank envisaging payment within 270 days from the date of shipment will, however, continue.

3. The above instructions may please be noted carefully and brought to the notice of your constituents also.

 

       
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