Chief Executives of
All Exchange Companies.
Dear
Sir,
REVISED
PROCEDURE FOR EXPORT OF FCYs OTHER THAN U.S.DOLLARS THROUGH
JIAP, KARACHI.
Attention of the Exchange Companies is invited to the existing
documentary requirements & procedure relating to export
of foreign currencies (other than US Dollars). In order
to further strengthen and streamline the procedure through
JIAP, Karachi, SBP-Custom’s Joint Booth has been established
at the International Lounge, JIAP, Karachi. It has been
decided that all Exchange Companies will henceforth adopt
the following procedure to be observed at the SBP-Customs
Joint booth at the time of export of FCYs other than U.S.
Dollars:
1)
Each Exchange Company desirous of Export of FCYs (other
than US Dollars) will be required to report to the SBP booth
at least 4-hours prior to the scheduled departure time of
the flight through which export of currency is intended
to be made.
2)
Representative of the Exchange Company shall approach the
booth with the FCYs consignment (other than US Dollars)
intended to be exported along-with the following documents:
a)
A covering letter in triplicate jointly addressed to Customs
and SBP containing particulars of the export transaction
as per specimen placed at Annexure-I. One copy each shall
be retained by SBP and Customs whereas the third copy shall
be retained by the concerned Exchange Company.
b)
A Declaration / Certificate containing details of the denomination
and amount of FCYs as per specimen placed at Annexure-II.
3)
All Exchange Companies shall provide the above information
on prescribed form (hard copies). However, they should ensure
that a soft copy of each of the above documents for each
transaction is maintained at their end.
4)
The booth will be operated for 16 hours each day, 7-days
a week on a two shifts basis each being for 8 hours. Timing
of the shifts would be from 3.00 A.M to 11.00 A.M &
from 2.00 P.M to 10.00 P.M. Most of the flight schedule
will be covered by these shifts.
5)
The foreign currency brought to SBP booth along with the
documents as indicated above shall be opened and counted
in the presence of Exchange Company’s representative
and Customs Official and verified by SBP officials as to
details from the accompanying documents filed by the Exchange
Companies as in (2) above.
6)
Custom’s Officer during or after the process may at
his discretion verify the actual count made by SBP / BSC
Officers against declared FCY as per Annexure –II.
7)
Once the FCY is counted and verified on the declaration
given at Annexure –II, same shall be packed by SBP
/ BSC staff using the vacuum packing machine. It may be
noted that the vacuumed packed bundles cannot be tempered
with. Any attempt to temper the wrapping would result in
dissipation of the vacuum and bundle automatically becoming
loose. Further, the date & SBP codes would automatically
be embossed on plastic wrapping of each bundle during packing.
8)
Packed bundles of currency shall thereafter be combined
manually in the form of a bigger bundle of suitable size
of say 2 x 2 x 2 ft in a plastic wrap, which will be sealed
from all sides. Each seal will be signed and stamped by
the two SBP / BSC officers and Customs Official present
at the booth.
9)
Concurrently all three officers as above shall also sign
and stamp the Exchange Company’s declaration (Annexure-I).
The consignment duly packed, sealed and signed shall be
handed over to the representative of the Exchange Company.
Thereafter, the consignment shall be treated as cleared
for export for the purposes of SBP & Customs.
10)
It will be the Custom’s progrative to check or verify
the FCYs being carried by the representative of the Exchange
Company at any stage after clearance of the FCY consignment.
11)
The above procedure will be applicable to all transactions
of Export of FCYs taking place on or after April 04, 2005.
Annexur
I
Annexur
II