All
Authorized Dealers
In Foreign Exchange,
Dear
Sirs,
RE-EXPORT
OF GOODS FOR REPAIRS OR REPLACEMENT ETC. AND THEY’RE
SUBSEQUENT RE-IMPORT
As Authorized
Dealers are aware, State Bank has been approving the forms
'E' in respect of goods such as machinery parts, empty
drums, watches, guns, musical instruments etc. which are
required to be exported abroad for repairs or replacement
on export-cum-import basis.
2. In this
connection, attention of the Authorized Dealers is invited
to the instructions contained in Chapter 20 "export-import
Procedures" issue by the Ministry of Commerce vide
Notification No.SRO.737(I) 94 dated the 26th
July, 1994 in terms of which the Custom authorities can
allow export-cum-import of the items sent abroad for repair
or replacement on submission of the indemnity bond by the
applicants. Consequently, State Bank will not henceforward
approve any form
'E' for the purpose. In such cases, the applicants may
approach the Custom authorities directly in the matter.
3. As regards
remittances on account of repair / replacement charges,
State Bank offices will consider to allow such remittances
on case-to-case basis provided requests are received through
the Authorized Dealers and are accompanied by the debit
notes/invoices from the overseas parties.
4. As for
freight on the inward / outward transportation of goods,
transportation should be arranged through PNSC / PIA against
payment of freight in local currency. State Bank offices
will approve 'P'
form / allow payment of freight in Pakistan rupees to
PNSC / PIA on being approached on case-to-case basis provided
the requests are accompanied by freight from the carriers.
5. Please
bring the above instructions to the notice of your constituents.
