Circulars/Notifications  

 F.E. Circular No. 17
December 03, 2002 

Head Offices/Principal Offices of all
Authorized Dealers In Foreign Exchange.

Dear Sirs,

NGOs AND UN (WELFARE) ORGANIZATION WORKING IN PAKISTAN

Keeping in view the operations of NGOs and other UN (Welfare) Organizations working in Afghanistan, it has been decided to allow them to take out of Pakistan foreign currency and Pak rupees over USD 10,000/ and Rs. 3,000/- respectively by opening an account subject to the procedure explained in the following paragraphs. Accordingly, following amendments may be made in Chapter XVIII of FE Manual:

a) Existing Para 7 may be re-numbered as 7(i)

b) Following new Para may be added as Para 7(ii):

“As an exception, rupee amounts encashed, at the interbank rates, from foreign currency accounts of NGOs, UN/Other Donor Agencies, funded through remittances from abroad, may also be allowed to be taken to Afghanistan without any limit. Authorised Dealers would issue Encashment Certificate and a Certificate, in duplicate, stating that the foreign currency has been encashed for the purpose of Afghanistan. One copy of this certificate would be submitted to Customs Authorities and the duplicate, stamped by Customs Authorities as ‘Amount allowed to be taken out’, would be kept by the concerned NGO/agency. The record of all such transactions would be kept by ADs for SBP inspection.”

c) Existing Para 10 may be re-numbered as 10(i).

d) Following new Para may be added as Para 10(ii):

“As an exception, NGOs, UN/Other Donor Agencies would be able to draw foreign currency from their accounts without any limit for taking it to Afghanistan to the extent of such remittances. Authorised Dealers would issue Certificates to these entities in duplicate, one copy of which would be submitted to Customs Authorities and the second would be kept by the concerned NGO/agency which would, however, be stamped by Customs Authorities as ‘Amount allowed to be taken out’. The record of all such transactions would be kept by ADs for SBP inspection.”

Please bring the to the notice of your branches and other constituents.

Yours faithfully,
(M. R. Mehkari)
Director

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