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 EPD Circular Letter No.13 dated August 29, 2018 whereby import advance payments upto USD 10,000 or equivalent per invoice and import on open account basis upto the said limit were allowed for specified items.
2. In this regard, it has been decided to allow imports on open account basis and advance payment upto USD 50,000/- or equivalent per invoice for import of life saving medicines & devices. However, the limit for imports against advance payment or on open account basis for essential medicines and devices shall remain the same i.e. USD 10,000 per invoice.
3. Further, import of life-saving and essential medicines & devices against advance payment or on open account basis shall be subject to submission of a certificate to the Authorized Dealer issued by the principal of a teaching hospital in public sector or head of a Government specialized hospital, instead of a certificate issued by the respective provincial health department, confirming that the medicines/devices/instruments being imported fall under the life-saving/essential category.
4. All other terms, conditions and instructions in the matter shall remain unchanged.
5. Authorized Dealers are advised to ensure strict compliance of the above instructions.