The Presidents/Chief Executives of all

Authorized Dealers in Foreign Exchange

Dear Sirs/Madam,

Amendments in Instructions regarding Advance Payment against Imports and Imports on Open Account Basis

1. Attention of Authorized Dealers is invited to FE Circular No. 06 dated July 14, 2018 and FE Circular No. 07 dated July 20, 2018 restricting advance payments against imports and imports on open account basis respectively.
2. In this regard, it has been decided to allow import advance payments upto USD 10,000 or equivalent per invoice and imports on open account basis upto the said limit against the following items:

1. Life saving/essential medicines and devices subject to submission of a certificate to the Authorized Dealer issued by respective provincial health department confirming that the medicines/devices/instruments to be imported fall under life saving/essential category.
2. Aircraft related spare parts/components.
3. Lab equipments/instruments imported by educational institutions for their own use.
4. Newspapers, magazines, periodicals, books etc.

3. All other terms, conditions and instructions in the matter shall remain unchanged.
4. Authorized Dealers are advised to ensure strict compliance of the above instructions.