In Foreign Exchange,
OF EARNINGS AGAINST
EXPORT OF SOFTWARE
Authorized Dealers are aware, exports from Pakistan are
subject to 'E'
Form procedure. The 'E'
Form cannot, however, be made applicable to the export
of computer software as these exports do not take place
in the shape of shipment of goods but these are exported
through the following modes:-
diskettes as storage media via mail / courier / personally,
satellite links/international data communication links
of phone lines using Modems.
It has, therefore, been decided to adopt the following procedure
to facilitate the export of computer software and realization
of the export proceeds:-
software houses / companies will get themselves registered
with the concerned area office of State Bank of Pakistan.
these companies conclude an agreement with overseas
buyers, they will submit a copy of the relative agreement
to the concerned area office of State Bank of Pakistan
companies will submit a monthly statement of their exports
/ earnings in the following format:-
of overseas buyers
of the Contract.
repatriated to Pakistan through banking channel
and name of the bank through which proceeds Realized.
monthly statements should be accompanied by Export Proceeds
Realization Certificates issued by the bank through
which the value of software exported is repatriated
The requests of the software houses/companies to make remittances
of commission to the overseas buyers out of the export proceeds
will be considered by the area State Bank of Pakistan offices
provided the relative contract contains a provision for
payment of the commission. The remittance of commission
will be allowed by State Bank of Pakistan offices after
realization of the export proceeds and at the rate given
in the relative contract. The requests for approval of the
remittances of commission will be made to State Bank of
Pakistan offices through the Authorized Dealer together
with the following information:-
and date of State Bank of Pakistans letter registering
the concerned Software house / company.
and date of the letter through which the software house
/ company had furnished a copy of the contract to the
State Bank of Pakistan office.
and date of the letter through which the Software house/company
furnished the monthly statement / Export Proceeds Realization
Certificates out of which the commission amount is desired
to be remitted.