APPENDIX III 

Notifications issued by the State Bank of Pakistan

under Foreign Exchange Regulation Act, 1947.

(VII of 1947)

1. Appendix III-1

2. Appendix III-2

3. Appendix III-3

4. Appendix III-4

5. Appendix III-5

6. Appendix III-6

7. Appendix III-7

8. Appendix III-8

9. Appendix III-9

10. Appendix III-10

11. Appendix III-11

12. Appendix III-12

13. Appendix III-13

14. Appendix III-14

15. Appendix III-15

16. Appendix III-16

17. Appendix III-17

18. Appendix III-18

19. Appendix III-19

20. Appendix III-20

21. Appendix III-21

22. Appendix III-22

23. Appendix III-23

24. Appendix III-24
    
25. Appendix III-25
    
26. Appendix III-26
    
27. Appendix III-27
    
28. Appendix III-28
    
29. Appendix III-29
    
30. Appendix III-30
    
31. Appendix III-31
32. Appendix III-32
    
33. Appendix III-33
    
34. Appendix III-34
    
35. Appendix III-35
    
36. Appendix III-36
    

Export of jewellery to Acceding States.

In pursuance of sub-section (2) of Section 8 of the Foreign Exchange Regulation Act, 1947, (VII of 1947), the State Bank of Pakistan is pleased to permit any person to take or send out of the Provinces of Pakistan precious stones or jewellery to States which have acceded or accede to Pakistan without limit.

Import of gold and silver in transit.

In pursuance of the Notification of the Government of Pakistan in the Ministry of Finance No.1(2)-ECS-48 dated the 1st July, 1948 (restricting the bringing or sending into the Provinces of Pakistan of gold and silver) and in supersession of the Notification of the State Bank of Pakistan No. F.E. 10/48-SB dated the 1st July, 1948, the State Bank of Pakistan is hereby pleased to give general permission to the bringing or sending of any such gold or silver as is specified in the Government notification referred to, by sea or air into any port in the Provinces of Pakistan, provided the gold or silver is on through transit to a place outside Pakistan and is not removed from the carrying ship or aircraft except for the purpose of transshipment.

Import of India Coin.

In pursuance of the Notification of the Government of Pakistan No. 1(2)-ECS/48 dated the 1st July, 1948, as amended by Notification of the Government of Pakistan No. 1(14) EF/49 dated the 5th November, 1949, the State Bank of Pakistan is pleased to permit any person to bring into the Provinces or the Capital of the Federation from any place outside Pakistan any coin which is legal tender in India not exceeding in all rupees five in value at any one time.

In pursuance of sub-section (1) of Section 4 of the Foreign Exchange Regulation Act, 1947 (VII of 1947), and in supersession of the State Bank of Pakistan Notification No. F.E. 15/48-SB dated the Ist July, 1948, the State Bank of Pakistan is pleased to direct that the prohibition imposed by that sub-section shall not apply to the operation on an account expressed in a foreign currency held in accordance with para 2 of the Government of Pakistan, Ministry of Finance, Notification No. 3(2)4-EF/52 dated the 14th June, 1952, by a foreign national who is, or is resident, in any Province of Pakistan but is not domiciled in Pakistan. 

Payment to the Non-residents.

In pursuance of sub-section (1) of Section 5 of the Foreign Exchange Regulation Act, 1947 (VII of 1947), and in supersession of the State Bank of Pakistan Notification No. F.E. 16/48-SB dated the Ist July, 1948 the State Bank of Pakistan is pleased to direct that the prohibition imposed by clause (a) of that sub-section shall not apply to the making of a payment to or for the credit of a person resident outside Pakistan out of funds held in an account maintained in accordance with the provisions of the Notification of the State Bank of Pakistan No. F.E. 56/53-SB dated the 7th May, 1953.

In exercise of the powers conferred upon it by the Foreign Exchange Regulation Act, 1947 and all other powers in this behalf the State Bank of Pakistan is pleased to order that the following notifications of the Reserve Bank of India that is to say Notifications: -

No. FER A/22/47-RB dated the 8th July, 1947.
No. FER A/23/47-RB dated the 8th July, 1947.
No. FER A/24/47-RB dated the 8th July, 1947 and
No. FER A/36/47-RB dated the 4th November, 1947

shall hereby be cancelled and be deemed to have been cancelled with effect from the 1st July, 1948.

Export of Jewellery.

In exercise of the powers conferred by sub-section (2) of Section 8 of the Foreign Exchange Regulation Act, 1947 (VII of 1947) and in supersession of its Notification No.FE/20/48-SB dated the 1st July, 1948 the State Bank of Pakistan is pleased to permit any person to export out of Pakistan precious stones or jewellery other than articles made wholly or mainly of gold, to any country without limit provided the packet containing the precious stones or jewellery is dispatched in the manner prescribed in the Government of Pakistan Ministry of Finance Notification No.1(6)-ECS/48 dated the 1st July, 1948 and No.1(7)-ECS/48 dated the 1st July, 1948.

In pursuance of the Central Government Notification No.1(8) EF/58 dated the 20th August, 1958 and in supersession of the State Bank of Pakistan Notification No.F.E.52/52-SB dated the 18th September, 1952 the State Bank of Pakistan is pleased to authorise all dealers for the time being authorised by the State Bank of Pakistan to under take foreign exchange business, to purchase foreign exchange for the purpose of the said Notification.

In pursuance of sub-section 1 of Section 4 of the Foreign Exchange Regulation Act, 1947 (VII of 1947) and in supersession of the State Bank of Pakistan Notification No.F.E.56/53-SB dated the 7th May, 1953 the State Bank of Pakistan is pleased to direct that the prohibitions imposed by that sub-section shall not apply to the operation on an account expressed in a foreign currency held in accordance with para 2 of the Government of Pakistan, Ministry of Finance Notification S.R.O. No. 1016 (I)/79 dated the 17^th October, 1979, by a foreign national who is, or is resident, in any Province of Pakistan but is not domiciled in Pakistan.

In pursuance of clause (a) of sub-section (1) of Section 20 of the Foreign Exchange Regulation Act, 1947 (VII of 1947), and in partial modification of the State Bank of Pakistan Notification No.F.E.13/48-SB dated the 1st July, 1948, the State Bank of Pakistan is pleased to direct that a person, other than a person holding any office in the service of Pakistan and residing outside Pakistan for the time being either on duty or on leave, being domiciled in, or a national of Pakistan, who is for the time being resident outside Pakistan, shall, unless otherwise authorized or exempted under the said Act, be treated, for purposes of section 5 of the said Act, as a person resident outside Pakistan, for so long as he is so resident.

In exercise of the powers conferred by section 13 of the Foreign Exchange Regulation Act, 1947 (Act No. VII of 1947), and in supersession of State Bank of Pakistan Notification No. FE.5/91-SB dated the 16^th July, 1991 the State Bank of Pakistan is pleased to give general permission for the doing of the various acts referred to in the said section in respect of Foreign Exchange Bearer Certificates issued under the Foreign Exchange Bearer Certificates Rules, 1985, the U.S. Dollar Bearer Certificates issued under the U.S. Dollar Bearer Certificates Rules, 1991 and Five Years Foreign Currency Bearer Certificates issued under the Five Years Foreign Currency Bearer Certificates Rules, 1992.

Export of precious stones & jewellery.

In pursuance of Sub-Section (2) of Section 8 of the Foreign Exchange Regulation Act, 1947 (VII of 1947), and in supersession of the State Bank of Pakistan Notification No.F.E.2/64-SB, dated the 2nd May, 1964, the State Bank of Pakistan is pleased to permit with effect on and from the 15th day of August, 1985 any person to take at any one time out of Pakistan precious stones or jewellery other than articles made wholly or mainly of gold to the countries specified in the first column of the schedule appended hereto to the extent indicated in the corresponding entries in the second column thereof:

2. Provided that any person other than a person domiciled in Pakistan or India who is returning to his/her own country may take with him/her any precious stones or jewellery brought by him/her into Pakistan without limit if the same had been declared to the Customs Authorities on the prescribed form at the time of his/her arrival in Pakistan and precious stones and jewellery, other than articles made wholly or mainly of gold purchased in Pakistan upto a further Rs.10,000/- in value.

SCHEDULE

In exercise of the powers conferred by sub-section (2) of section 8 of the Foreign Exchange Regulation Act, 1947 (Act No. VII of 1947) and in supersession of State Bank of Pakistan Notification No.FE.4/71-SB dated the 9th December, 1971, the State Bank of Pakistan is pleased to notify that persons taking out of Pakistan jewellery and precious stones under general permission given by the State Bank in this behalf shall, before leaving Pakistan, make a declaration to the Customs Authorities on Form 'CD' appended to this Notification.

FORM 'CD'
Declaration Form to be completed by Persons Leaving Pakistan

(Prescribed under Section 8(2) of the Foreign Exchange Regulation Act, 1947 vide Notification No.FE.4/91-SB dated 26-2-1991).

I (Name in block letters)__________________ hereby declare that at the time of leaving Pakistan, I am in possession of the following jewellery and precious stones:

I declare that the information furnished by me above is correct and in the event of its being not correct, I hold myself liable for such action as may be deemed fit under the Foreign Exchange Regulation Act, 1947.

Export of Currency Notes.

In pursuance of Sub-Section (2) of Section 8 of the Foreign Exchange Regulation Act, 1947 (Act No. VII of 1947) and in supersession of State Bank of Pakistan Notification No.FE.2/91-SB dated the 26th February, 1991, as amended vide Notification No.FE.2/92-SB dated the 10^th November, 1992, the State Bank of Pakistan is pleased to permit as follows: -

(1) Any person may take out from Pakistan to any country other than India, currency notes of the Government of Pakistan and State Bank of Pakistan notes not exceeding in all Rs.3,000.00 (Rupees three thousand only) in value at any one time.

(2) Any person may take out from Pakistan to India currency notes of the Government of Pakistan and State Bank of Pakistan notes not exceeding in all Rs. 500.00 (Rupees five hundred only) in value at any one time.

(3) Any person may take out from Pakistan to Afghanistan, notes and coins which are the currency of Afghanistan without limit.

(4) Currency which has been brought into Pakistan in the safes of vessels or aircraft or which has been taken on board a vessel or aircraft with the permission of the State Bank of Pakistan may be taken out of Pakistan. 

Import of Currency Notes.

In pursuance of Government of Pakistan Notification No.F.1 (8)-EF/49 dated the 2nd May, 1949 and in supersession of the State Bank of Pakistan Notification No.FE.3/92-SB dated the 10th November, 1992, the State Bank of Pakistan is pleased to permit any person to bring into Pakistan : -

(i)                  From any place outside Pakistan any foreign currency notes or bank notes without limit except un-issued notes.

(ii)                Notes legal tender in Pakistan not exceeding Rs. 500.00 (Rupees five hundred only) from India and Rs. 3,000.00 (Rupees three thousand only) from any place other than India, in value in all per person at any one time.

In pursuance of the Government of Pakistan Notification No. 1 (2)-ECS/48, dated the 1^st July, 1948, and in supersession of State Bank of Pakistan Notification No. F. E. 1/89-SB, dated the 2^nd December, 1989, the State Bank of Pakistan is pleased to permit the import of pure gold which also falls under Heading No. 71.08 of the First Schedule to the Customs Act, 1969 (IV of 1969) into Pakistan as accompanied baggage from any place outside Pakistan in accordance with the Import Policy Order as amended from time to time.

In exercise of the powers conferred by sub-section (2) of Section 8 of the Foreign Exchange Regulation Act, 1947 (Act No. VII of 1947), and in supersession of State Bank of Pakistan Notification No. F.E. 1/91-SB dated the 26^th February, 1991, the State Bank of Pakistan is pleased to permit:- 
(a)        Authorized Dealers to send out of Pakistan, cheques, drafts or bills of exchange which have been acquired by them in the normal course of their  business and within the terms of their authorization. 
(b)        Any person maintaining an account expressed in a foreign currency, and held under any permission, general or otherwise, granted by the State Bank of Pakistan to take or send out of Pakistan, cheques or drafts drawn on such account. 
Any person, other than a person to whom foreign exchange is issued for travelling purposes only, to send out of Pakistan foreign exchange issued to him by an Authorized Dealer.
(d) Any person to take out of Pakistan foreign exchange issued to him by   an Authorized Dealer in Pakistan and endorsed on his passport.
(e) Any person not ordinarily resident in Pakistan, to take out of Pakistan the unspent amount of foreign currency brought by him into Pakistan provided the period of his continuous stay in Pakistan does not exceed three months, and
(f) Any person to take out of Pakistan US$ 10,000/- or equivalent thereof in other foreign currencies.

In exercise of the powers conferred by section 23 (3) of the Foreign Exchange Regulation Act, 1947 (VII of 1947) and in supersession of the State Bank of Pakistan Notification No. F.E. 3/94-SB, dated the 12^th October, 1994 the State Bank of Pakistan is pleased to authorise the following Officers of the Exchange Policy Department of the State Bank of Pakistan to make complaints of offences punishable under section 23: - 

1.                   The Director, Exchange Policy Department.

2.                   The Additional Director, Exchange Policy Department.

3.                   A Joint Director.

4.                   A Deputy Director.

5.                   An Assistant Director.

6.                   A Foreign Exchange Officer.

7.                   An Assistant Foreign Exchange Officer.

In pursuance of rule 4 of the Foreign Exchange Rules, 1952 and in supersession of the State Bank of Pakistan Notifications No. F.E. 2/72-SB, dated the 30^th March, 1972 and No. F.E. 4/72-SB, dated the 5^th October, 1972 and No. F.E. 1/93-SB, dated the 14^th January, 1993 and No. F.E. 2/94-SB, dated the 12^th October, 1994 the State Bank of Pakistan is pleased to notify that all powers vested in the State Bank under the Foreign Exchange Regulation Act, 1947 (VII of 1947) shall be exercised and all functions entrusted to the State Bank under the said Act shall be performed in the name of the State Bank by the following Officers of the Exchange Policy Department of the State Bank, namely: - 

1.                   The Director, Exchange Policy Department.

2.                   The Additional Director, Exchange Policy Department.

3.                   A Joint Director.

4.                   A Deputy Director.

5.                   An Assistant Director.

6.                   A Foreign Exchange Officer.

7.                   An Assistant Foreign Exchange Officer.

In exercise of the powers conferred by section 23 (3) of the Foreign Exchange Regulation Act, 1947 (VII of 1947), and in supersession of the State Bank of Pakistan’s Notification No.F.E.1/2000-SB dated 21^st August,2000, State Bank of Pakistan is pleased to authorize the following Officers of the Exchange Policy Department of the Bank to make complaints of offences punishable under section 23 of the Act : 

1.                   The Director.

2.                   The Senior Joint Director.

3.                   A Joint Director.

4.                   A Junior Joint Director.

5.                   An Assistant Director.

6.                   A Foreign Exchange Officer

7.                   An Assistant Foreign Exchange Officer. 

In pursuance of Rule 4 of the Foreign Exchange Rules, 1952 and in supersession of the State Bank of Pakistan’s Notification Nos.F.E.2/72-SB dated 30^th March, 1972 and No.F.E.4/72-SB dated 5^th October,1972 and No.F.E.1/93-SB dated 14^th January,1993 and No.F.E.2/94-SB dated the 12^th October,1994 and No.F.E.2/2000-SB dated 21^st August,2000, State Bank of Pakistan is pleased to notify that all powers vested in the State Bank under the Foreign Exchange Regulation Act,1947 (VII of 1947), shall be exercised and all functions entrusted to the State Bank under the said Act shall be performed in the name of the State Bank by the following Officers of the Exchange Policy Department of the State Bank, namely :-

APPENDIX III -   21
NOTIFICATION NO. F.E. 3/2001-SB
DATED THE 28^TH SEPTEMBER, 2001

In pursuance of rule 3 of Foreign Exchange Rules, 1952 and all other powers enabling it in this behalf under the Foreign Exchange Regulation Act, 1947 (VII of 1947) and in supersession of the Notification No. F.E. 1/98-SB dated 8^th June 1998, as amended from time to time, the State Bank of Pakistan is pleased to notify as follows: -  

1.       A declaration required to be submitted under sub-section (I) of Section 12 of    the F.E.R. Act, 1947 (VII of 1947) shall be submitted by the exporter: 

(a)   When goods are exported otherwise than by post, to Collector of Customs;

(b)   When goods are exported by post, to the Post Master of the Post Office at which the goods are posted for export.   

     2.  An amount representing the full export value of the goods shall be paid on the due date for payment as per terms of Sale Contract or within six months from the date of shipment or posting, as the case may be, whichever is earlier. 

      3.  An amount representing the full export value of the goods exported to any country shall be paid through an Authorized Dealer in Pakistan either in U.S. Dollar or in any convertible foreign currency in which an Authorized Dealer maintains accounts or in Pakistan rupees from a non-resident bank account.

APPENDIX III -   22
NOTIFICATION NO.F.E.1/2012-SB
DATED THE 16th JUNE, 2012

In continuation of State Bank of Pakistan Notification No. F.E.5/92-SB dated the 28th December, 1992, the State Bank of Pakistan is pleased to notify that persons bringing into Pakistan currencies and/or bearer negotiable instruments exceeding aggregate value of U.S. Dollar 10,000 or equivalent shall make a declaration with effect from the 1st July, 2012 to the Customs Authorities on Form ‘CD-1’ appended to this Notification.

FORM ‘CD-1’
CURRENCY DECLARATION FORM  

(Prescribed under Foreign Exchange Regulation Act, 1947 vide State Bank of Pakistan Notification No.FE.1/2012-SB dated 16-6-2012)
To be filled by persons bringing into Pakistan currencies and/or bearer negotiable instruments exceeding aggregate value of U.S. Dollar 10,000 or equivalent

I ...…………………………………………………………………….hereby, declare that the following currencies and/or bearer negotiable instruments are in my possession at the
time of my arrival in Pakistan:

Serial No.	Description of Currency / Bearer Negotiable Instrument *	Amount
1
2
3

1. Name………………………………………………………………………………………….
2. Passport No. ………………………………................ Place of issue…………………………
3. Nationality. ……………………………………………………………………………………
4. Address in Pakistan. ………………………………………………………………………….
………………………………………………………………………………………………..
5. Name of Carrier/Airline. ………………………………………………………………………
6. Carrier / Flight No. …………………………………………………………………………….
7. Date of Arrival.………………………………………………………………………………...
8. Port of Embarkation.…………………………………………………………………………..
9. Port of Disembarkation……………………………………………………………………….
10. Purpose of Visit to Pakistan…………………………………………………………
I declare that the information furnished by me above is correct, and in the event of its being not correct, I hold myself liable for such action as may be deemed fit under the Foreign Exchange Regulation Act, 1947 and/or the Customs Act, 1969.

Signature_________________

* Includes cheques, promissory notes, traveller’s cheques, bearer bonds, money orders, postal orders, pay orders, demand drafts etc. whose title may change on delivery to any other person.

Sd/- (Yaseen Anwar) Governor

 

APPENDIX III -   23
NOTIFICATION NO.F.E.1/2015-SB
DATED 1ST JUNE, 2015

In exercise of the powers conferred by Section 8 of the Foreign Exchange Regulation Act, 1947 (Act No. VII of 1947) and in terms of permission of State Bank of Pakistan, it is notified as follows:-

Any person is allowed to take out of Pakistan US Dollars or equivalent thereof in other foreign currencies as per the following limit:-

Age Group of Person	Maximum Limit Per person Per Visit (US$ or equivalent in other foreign currencies)	Annual Ceiling per person (US$ or equivalent in other foreign currencies)
Up to 5 years	1,000	6,000
From 5 - 18 years	5,000	30,000
Above 18 years	10,000	60,000

Sd/- (Saeed Ahmad) Governor (A)

 

APPENDIX III -   24
NOTIFICATION NO.F.E.1/2016-SB
DATED JULY 26, 2016

In exercise of the powers conferred by section 20 (3) of the Foreign Exchange Regulation Act, 1947 (VII of 1947), State Bank of Pakistan is pleased to notify as under:

(i) All imports into Pakistan shall only be made against advance payment, letter of credit, contract/ collection or on open account basis as per the procedure prescribed by the State Bank from time to time.

(ii) All importers of goods shall make a declaration to the Customs Authorities through Electronic Import Form (EIF) before filing of Goods Declaration that the payment against imported goods has been or will be made in a manner and within a period as may be specified by the State Bank from time to time.

Sd/- (Ashraf Mahmood Wathra) Governor

APPENDIX III - 25
NOTIFICATION NO. F.E.1/2017-SB
Dated the 30th August, 2017

Export of Currency Notes

In pursuance of Sub-Section (2) of Section 8 of the Foreign Exchange Regulation Act, 1947 (Act No. VII of 1947) and in supersession of State Bank of Pakistan Notification No. F.E. 4/92-SB dated the 28th December, 1992, the State Bank of Pakistan is pleased to permit as follows: -

(1) Any person may take out from Pakistan to any country other than India, currency notes of Pakistan not exceeding in all Rs.10,000/- (Rupees Ten Thousand Only) in value at any one time.

(2) Any person may take out from Pakistan to India currency notes of Pakistan not exceeding in all Rs. 3,000/- (Rupees Three Thousand Only) in value at any one time.

(3) Currency which has been brought into Pakistan in the safes/vaults of vessels or aircraft or which has been taken on board a vessel or aircraft with the permission of the State Bank of Pakistan may be taken out of Pakistan. 
 

APPENDIX III - 26
NOTIFICATION NO. F.E.2/2017-SB
Dated the 30th August, 2017

Import of Currency Notes

In pursuance of Government of Pakistan Notification No.F.1 (8)-EF/49 dated the 2nd May, 1949 and in supersession of the State Bank of Pakistan Notification No.F.E.5/92-SB dated the 28th December, 1992, read with its Notification No.F.E.1/2012-SB dated the 16th June, 2012, the State Bank of Pakistan is pleased to permit any person to bring into Pakistan: -

(1) From any place outside Pakistan any foreign currency notes or bank notes without limit except un-issued notes.

(2) Notes legal tender in Pakistan not exceeding Rs. 3,000/- (Rupees Three Thousand Only) from India and Rs. 10,000/- (Rupees Ten Thousand Only) from any place other than India, in value in all per person at any one time.

APPENDIX III - 27
NOTIFICATION NO. F.E.1/2018-SB
Dated the 27^th March, 2018

In pursuance of Rule 4 of the Foreign Exchange Rules, 1952 and in supersession of the State Bank’s Notification No. F.E.1/2001-SB dated 15th August, 2001, the State Bank is pleased to authorize the following officers of Exchange Policy Department of the State Bank and Foreign Exchange Operations Department of the SBP Banking Services Corporation to make complaints of offences punishable under section 23 of the Foreign Exchange Regulation Act, 1947 (VII of 1947):

1. The Director
2. An Additional Director
3. A Senior Joint Director
4. A Joint Director
5. A Deputy Director
6. An Assistant Director

APPENDIX III - 28
NOTIFICATION NO. F.E.2/2018-SB
Dated the 27^th March, 2018

In pursuance of Rule 4 of the Foreign Exchange Rules, 1952 and in supersession of the State Bank’s Notification No. F.E.2/2001-SB dated 15th August, 2001, the State Bank is pleased to notify that all powers vested in it under the Foreign Exchange Regulation Act, 1947 (VII of 1947) shall be exercised and all functions entrusted to it under the said Act shall be performed in the name of the State Bank by the following officers of Exchange Policy Department of the State Bank:

1. The Director
2. An Additional Director
3. A Senior Joint Director
4. A Joint Director
5. A Deputy Director
6. An Assistant Director

APPENDIX III - 29
NOTIFICATION NO. F.E.3/2018-SB
Dated the 27^th March, 2018

In continuation of State Bank’s Notification No. F.E.2/2018-SB dated 27th March, 2018, the State Bank is pleased to notify that the powers vested in it under section 23K of the Foreign Exchange Regulation Act, 1947 (VII of 1947) shall be exercised in the name of the State Bank by the following officers of Off-site Supervision & Enforcement Department of the State Bank:

1. The Director
2. An Additional Director
3. A Senior Joint Director
4. A Joint Director
5. A Deputy Director
6. An Assistant Director

APPENDIX III - 30
NOTIFICATION NO. F.E.4/2018-SB
Dated the 6^th August, 2018

In exercise of the powers conferred by section 4 (2) (g) of the Protection of Economic Reforms Act, 1992 (XII of 1992), the State Bank of Pakistan is pleased to notify that any person carrying foreign currency notes exceeding US$ 10,000 or equivalent within Pakistan shall be responsible to ensure that:

a) the foreign currency notes have been acquired through authorized sources.

b) the funds used for acquisition of such foreign currency are legitimate.


In case the person carrying foreign currency notes exceeding US$ 10,000 or equivalent fails to produce the evidence to the above effect, he shall be liable for action under the provisions of Foreign Exchange Regulation Act, 1947, Anti Money Laundering Act, 2010 or any other law for the time being in force.

APPENDIX III - 31
NOTIFICATION NO.F.E.5/2018-SB
DATED THE 8th OCTOBER, 2018

In terms of rule 4 of the Foreign Exchange Rules, 1952 read with section 18 of the SBP Banking Services Corporation Ordinance, 2001 and in continuation of State Bank’s Notification No. F.E. 3/2018-SB dated March 27, 2018, the State Bank is pleased to notify that the powers vested in it under section 23K of the Foreign Exchange Regulation Act, 1947 (VII of 1947) shall also be exercised in the name of the State Bank on all violations that occurred before July 27, 2016 by the following officers of Foreign Exchange Operations Department of SBP-Banking Services Corporation:

1. The Director
   
   
2. An Additional Director
   
   
3. A Senior Joint Director
   
   
4. A Joint Director
   
   
5. A Deputy Director
   
   
6. An Assistant Director

APPENDIX III - 32
NOTIFICATION NO.F.E.1/2019-SB
DATED THE 4th February, 2019

In terms of rule 4 of the Foreign Exchange Rules, 1952 read with section 18 of the SBP Banking Services Corporation Ordinance, 2001 and in continuation of State Bank’s Notification No.F.E.5/2018-SB dated the 8th October, 2018, the State Bank is pleased to notify that officers of Foreign Exchange Operations Department of SBP-Banking Services Corporation notified in said notification shall continue to exercise, in the name of the State Bank, powers regarding issuance of Show Cause Notice and provision of opportunity of being heard, under section 23K of the Foreign Exchange Regulation Act, 1947 (VII of 1947) on all violations of functions already delegated to SBP-Banking Services Corporation that occurred on and after July 27, 2016.

APPENDIX III - 33
NOTIFICATION NO.F.E.1/2021-SB
DATED THE July 19, 2021

In exercise of the powers conferred by section 20(3) of the Foreign Exchange Regulation Act, 1947 (VII of 1947) and in supersession of State Bank’s Notification No.F.E.1/2016-SB dated the July 26, 2016, State Bank of Pakistan is pleased to notify as under:.



1. All imports into Pakistan shall only be made against the permissible modes of imports as allowed by State Bank of Pakistan from time to time.
   
   
2. All importers of goods in Pakistan shall submit a declaration, while undertaking an import transaction, in the prescribed manner and to the prescribed authority, stating that the payment against the goods imported/to be imported has been or will be made through an Authorized Dealer in Pakistan, where required, as per the instructions issued by the State Bank of Pakistan from time to time.

APPENDIX III - 34
NOTIFICATION NO. F.E 2/2021-SB
DATED THE OCTOBER 06, 2021

In exercise of the powers conferred under Section 8 of the Foreign Exchange Regulation Act, 1947 (Act No. VII of 1947), the following limits are hereby notified for taking out cash foreign currencies from Pakistan by persons travelling to Afghanistan:

Maximum Limit Per person Per Visit (US$ or equivalent in other foreign currencies)	Annual Ceiling per person (US$ or equivalent in other foreign currencies)
1,000	6,000

 

APPENDIX III - 35
NOTIFICATION NO.F.E.1/2022-SB
DATED THE JANUARY 5, 2022

In pursuance of rule 3 of Foreign Exchange Rules, 1952 and all other powers enabling it in this behalf under the Foreign Exchange Regulation Act, 1947 (VII of 1947) and in supersession of the Notification No. F.E.3/2001-SB dated 28th September 2001, as amended from time to time, the State Bank of Pakistan is pleased to notify as follows:

1.        A declaration required to be submitted under sub-section (I) of Section 12 of the FERA Act, 1947 (VII of 1947) shall be submitted by the exporter: 

1. When goods are exported otherwise than by post, to Collector of Customs;
2. When goods are exported by post, to the Post Master of the Post Office at which the goods are posted for export.   

2.         An amount representing the full export value of the goods shall be paid on the due date for payment as per terms of Sale Contract or within one hundred and twenty (120) days from the date of shipment or posting, as the case may be, whichever is earlier. 

3.         An amount representing the full export value of the goods exported to any country shall be paid through an Authorized Dealer in Pakistan either in U.S. Dollar or in any other convertible foreign currency in which an Authorized Dealer maintains accounts or in Pakistan rupees from a non-resident repatriable bank account.

 

APPENDIX III - 36
NOTIFICATION NO. F.E.2/2022-SB
DATED THE NOVEMBER 08, 2022

In exercise of the powers conferred under Section 8 of the Foreign Exchange Regulation Act, 1947 (Act No. VII of 1947),
and in supersession of the State Bank of Pakistan Notification No. F.E.1/2015-SB dated the 1st June 2015, SBP is
pleased to notify that:-

1.    Any person traveling abroad (except to Afghanistan) is allowed to take out of Pakistan US Dollars or equivalent
thereof in other foreign currencies as per the following limits:-

Age Group of Person	Maximum Limit Per person Per Visit in US$ (or equivalent in other foreign currencies)	Annual Limit per person in US$ (or equivalent in other foreign currencies)
18 years & above (Adults)	5,000	30,000
Below 18 years (minors)	2,500	15,000

2.    The existing limits for travelling to Afghanistan, as per SBP Notification no. F.E 2/2021-SB dated October 06, 2021
shall remain unchanged.

3.    The maximum limit per person per visit is applicable with immediate effect. The annual limits will be for a calendar
year starting from the year 2023. However, for calendar year 2022, the existing annual limits will continue to be effective
till December 31, 2022.

4.    Any person taking foreign currency out of Pakistan shall make a declaration to the Customs Authorities at the
time of leaving the country.