All
Authorized Dealers in
Foreign Exchange,
Dear
Sirs,
TRADING
IN FEDERAL INVESTMENT BONDS(F.I.Bs.)
AND TREASURY BILLS (T.Bs) BY NON-RESIDENTS THROUGH SPECIAL
CONVERTIBLE RUPEE ACCOUNT
Attention of
Authorized Dealers is invited to the instructions embodied
in Sub-para
(f) (I) of Para 6, Chapter
XX of Foreign Exchange Manual in terms of which Government
Securities can be issued to foreign nationals resident in
or outside Pakistan on repatriable basis provided the purchase
price is remitted from abroad in foreign exchange through
normal banking channels or paid out of foreign currency
account maintained in Pakistan.
2. It has now
been decided to allow non-residents to trade freely in Federal
Investment Bonds (F.I.Bs) and Treasury Bills (T.Bs.) in
the secondary market through Special Convertible Rupee Accounts
subject to the instructions contained in F.E. Circular No.33
dated the 25th March, 1992 read with F.E.
Circular No. 24 dated the 21st March, 1993.
3. Please bring
the above to the notice of your constituents concerned.
