The Presidents/Chief Executives of all
Authorized Dealers in Foreign Exchange

Dear Sir/Madam,

Monthly Foreign Exchange Returns – Addition of purpose codes

Please refer to FE Circular No.11 dated October 22, 2018 regarding extension in home remittance services.

2. Following purpose codes have been added in monthly foreign exchange returns reported through international transactions reporting system (ITRS) to capture B2C and C2B transactions mentioned in above circular:

A. Business-to-Customer (B2C) transactions:

S.No	Purpose	Description	Schedule and Purpose Code
1.	Freelance of computer and information services	Remittances received by resident individuals/households from reputed overseas IT firms and online platforms on account of free lance of computer and information systems services.	Schedule J/O-3 9186
2.	Other free lance services	Remittances received by resident individuals/households from overseas reputed online platforms, firms and individuals on account of free lance services other than computer and information systems services.	Schedule J/O-3 9249
3.	Pension Transactions	Remittances received from abroad by resident pensioners on account of pensions only.	Schedule J/O-3 9477

B. Customer-to-Business (C2B) transactions:

S.No	Purpose	Description	Schedule and Purpose Code
1.	Utility Bills, Education, Hospitals, Superstores, Insurance, Credit Card Payments etc.	Remittances received by electricity companies, gas companies, Telecoms, educational institutions and universities accredited by HEC, super stores, hospitals etc. in their consumer accounts from overseas Pakistani individuals on account of above in Pakistan.	Schedule J/O-3 9478
2.	Housing schemes	Remittances received by reputed real estate builders/developers and housing societies from overseas Pakistani individuals on account of purchase/installment of property such as residential plots, flats and buildings etc. excluding remittances for equity/participation in an enterprise.	Schedule J/O-3 9479

3. ITRS client application has been updated to capture transactions on these purpose codes. Banks are advised to download updated client from knowledge centre of SBP Data Acquisition Portal (DAP) and start reporting data on the purpose codes, if any;
4. Authorized Dealers are advised to bring the above to the notice of all their constituents.