Attention of Exchange Companies and Exchange Companies of ‘B’ Category is invited to instructions contained in FE Circular No. 15 dated December 12, 2018 in terms of which they are required to standardize monitoring through Close Circuit Television (CCTV) cameras with effect from January 01, 2019.

2. In order to fully implement the subject instructions throughout their entire network across Pakistan, Exchange Companies have requested to extend implementation deadline for the subject instructions.

3. In view of the above, it has been decided to allow Exchange Companies and Exchange Companies of ‘B’ Category extension of two months in implementation of subject instructions. Accordingly, para 4 of FE Circular No. 15 of 2018 stands revised as under:

(4) The above instructions shall become effective from March 01, 2019. Exchange Companies and Exchange Companies of ‘B’ Category are, therefore, advised to make necessary arrangements for timely implementation of the above instructions.

4. All other terms and conditions on the subject shall remain unchanged and no further relaxation shall be granted in the time period.

5. Failure to comply with the above instructions shall attract regulatory action under the relevant provisions of the Foreign Exchange Regulation Act, 1947.