in Foreign Exchange,
OF BILLS OF ENTRY/
of the Authorized Dealers is invited to paragraph 44 Chapter XIII of
the Exchange Control Manual (6th Edition
1987) in terms of which the importers are required to submit
the relative Exchange Control Copy of the Customs Bills
of Entry or Certified Invoices within 4 months from the
date of remittance. It has now been decided to dispense
with the requirement for submission of the Exchange Control
Copy of the Bills of Entry/Certified Invoices in evidence
of import of goods in Pakistan as also the procedure for
reporting of outstanding cases of Bills of Entry to the
State Bank of Pakistan with immediate effect.
Consequent upon the above decision the following amendments
may be made in Chapter XIII of the Exchange Control Manual
(sixth Edition, 1987):-
I i Paragraph 27(a)
words "Exchange Control Copy of Bill of Entry"
appearing in last two lines of the paragraph may be replaced
by the words "Triplicate Customs Copy of Bill of
words "Exchange Control Copy of the Customs bill
of entry" appearing in lines 8 & 9 of the paragraph
may be substituted by the words "Triplicate Customs
copy of Bill of Entry".
stop be inserted after word "Pakistan" in the
sixth line and remaining words of the sentence be deleted.
words "The Exchange Control copies of the Customs
bills of entry for consumption" appearing in lines
6 and 7 of the paragraph may be replaced by the words
"Triplicate Customs copies of the bills of entry".
last sentence "Authorized Dealers ______________________
prescribed drill" may be deleted.
words "for submission of Exchange Control Copy of
Bill of Entry to the Authorized Dealer" may be replaced
by the words "under the Foreign Exchange Regulation
two sentences "The duplicate _____________________
their record" may be deleted.
words "are required to submit the relative Exchange
Control Copy of the Customs Bills of Entry or certified
invoices within 4 months from the date of remittance"
may be replaced with the words "shall not use the
foreign exchange so acquired other than for that purpose".
paragraph may be deleted and subsequent paragraphs be
existing para may be substituted by the following:-
"In the event of total or partial loss of goods,
it will be the responsibility of the importers to recover
claim from insurance company/shipping company/supplier,
as the case may be.
i App-V-25 (Volume II)
words "Exchange Control Copy of the Bill of Entry"
wherever appearing in the undertaking prescribed in this
Appendix may be substituted with the words "Triplicate
Customs Copy of the Bill of Entry".
declaration of the importer appearing at Sr.No.3 of the
I Form be substituted with the following:-
"I/We undertake that the remittance being made shall
be utilized for the above import and I/we shall clear
the goods for consumption in Pakistan within four months
from the date of this application".
V-27 & 28 (Volume II)
formats prescribed in these appendices may be deleted.
i F.E. Circular No.56 dated 15-6-1992
instructions contained in this circular may be deemed
to have been withdrawn.
The above instructions may be brought to the notice of your
constituents who may also carefully note that this relaxation
is without prejudice to the provision of Sub-Section (3)
of Section 4 of the Foreign Exchange Regulation Act, 1947
and any violation thereof will attract penal action under
the aforesaid Act.