The Head/Principal Offices of all

Authorized Dealers in Foreign Exchange

Dear Sir/Madam

6% RESEARCH AND DEVELOPMENT SUPPORT TO THE GARMENTS INDUSTRY

Attention of Authorized Dealers is invited to FE Circular No. 06 dated June 18, 2005 on the above subject.

Under Ministry of Commerce’s SRO No. 1036 (I)/2005 dated October 14, 2005, certain amendments have been made in respect of applications by exporters for 6% R&D Support, in terms of which 30 days time for submission/re-submission of cases has been extended to 90 days and the requirement of Customs’ Certificate (Annexure III) has also been done away. Copy of the said SRO is enclosed for ready reference. Accordingly, FE Circular No. 06 dated June 18, 2005 has been amended as under;

1. In para 3(i) line 4, the word ‘thirty’ is replaced with the word ‘ninety’
2. In Annexure I, clause (f) is omitted
3. Annexure III is omitted

Furthermore, in order to facilitate exporters, all the applications originally submitted on or before September 30, 2005, i.e. within 90 days of the realization of export proceeds, but returned due to certain discrepancies, will be allowed to be re-submitted irrespective of the 90 days time limit and will be processed/ paid by SBP-BSC Offices accordingly.

All other instructions contained in the Ministry of Commerce’s SRO No. 437 (I)/2005 dated May 18, 2005, as amended vide Ministry of Commerce’s SRO No. 611(I)/2005 dated June 15, 2005, and as contained in FE Circular No. 06 dated June 18, 2005 referred to above, would remain unchanged.

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