The Head/ Principal Offices of all

Authorized Dealers in Foreign Exchange

Dear Sirs/ Madam,

Realignment of Functions of Exchange Policy Department-EPD

In continuation of FE Circular # 19 dated November 10, 2003, the following functions (presently being overseen by Exchange Policy Department, SBP, Karachi) have also been transferred to Foreign Exchange Operations Department, SBP-BSC (Bank), Head Office, Karachi :-

1. Processing of Foreign Exchange Allocation as per approved budget.
2. Processing of Royalty, Technical Fee payment request.
3. Branch/Liaison Offices,
4. Miscellaneous Remittances (M-Form) pertaining to IT, Board of Director Meeting Fees ,Media Commercial Charges and expenses pertaining to Training/Study/Travelling/ Conferences & Seminars.

Consequently, henceforth all correspondence relating to above mentioned operational nature work/issue should be made to Director, Foreign Exchange Operations Department, SBP-BSC (Bank), Head Office, Karachi.

However, cases involving waiver from any provision of the FE Manual, or where no explicit guidelines are provided in the Manual will continuously be referred to Director, Exchange Policy Department, SBP, Karachi for policy clarification & decision.

Authorized Dealers are advised to bring the above to the notice of their constituents for strict compliance.