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| All Authorised Dealers/ Shipping Companies in Pakistan, Dear Sirs, Attention of Authorised Dealers is invited to the instructions contained in paragraph 5.4 of FE Circular No. 38 dated 21st July, 1998 in terms of which the facility afforded to the exporters, vide sub-paragraph (iii) of paragraph 29 - Chapter XII of the Foreign Exchange Manual to retain amounts in foreign currency accounts for the purpose mentioned therein, was withdrawn. It has since been decided to restore the above facility to the exporters with immediate effect. The Authorised Dealers may, however, ensure that the amounts retained in such foreign currency accounts will not be used for the purposes other than those outlined in paragraph 29(iii) - Chapter XII of the Foreign Exchange Manual. |
Yours sincerely,
M. R. MEHKARI
Director