All
Authorised Dealers
in Foreign Exchange,
Dear
Sirs,
BAN
ON IMPORT OF WHEAT BY PRIVATE SECTOR
Attention
of Authorised Dealers is invited to F.E.Circular
No. 77 dated the 15th September, 1992 in terms
of which prior permission of State Bank is required for
opening of Letter of Credit for import of sugar and Food
grains (cereals) on C&F (Free out) basis.
It
has been decided by the Government to impose ban on import
of wheat by Private Sectors. Authorised Dealers are, therefore,
advised not to establish Letter of Credit for import of
wheat henceforth whether on C&F or C&F (Free out)
basis.
Particulars
of Letters of Credit opened by Authorised Dealers on or
after 8th June, 1999 may be furnished to the Additional
Director, Foreign Exchange Department, State Bank of Pakistan,
Karachi immediately but not later than 19-06-1999.