Circulars/Notifications - Exchange Policy Department  
 F.E. Circular No. 57
July 13, 1994 

All Authorized Dealers in
Foreign Exchange / Airlines /
Shipping Companies,

Dear Sirs,


Attention of the Authorized Dealers is invited to F.E. Circular No. 49 dated the 14th June, 1994 in terms of which the requirement of payment of import fee has been dispensed with which has made it necessary to amend the instructions contained in F.E. Circular No. 97 dated the 11th June, 1991 regarding imports on FOB basis.

2. Accordingly, following revised instructions are issued in suppression of F.E. Circular No. 97 of 1991:

  1. The importers desiring to make imports on FOB basis will get the letters of credit opened / contracts for imports on consignment basis registered through / with their bankers provided the importers fulfil other instructions issued by the Government of Pakistan / State Bank of Pakistan with respect to imports.

  2. The shipping line / airlines will obviously issue Bills of Lading / Airway Bills in connection with FOB imports on 'Freight to Collect' basis. As and when freight is required to be paid in Pakistan rupees, the importers will approach the Authorized Dealers who had opened letter of credit / registered the contract for import on consignment basis alongwith a copy of Bill of Lading / Airway Bill indicating the amount of freight payable together with the freight invoice issued by the carrier – where available – for issuance of a certificate in the format attached herewith which will bear the name / address of the issuing Authorized Dealer and a running serial number.

  3. The importers will when pay the freight amount to the carriers in Pakistan rupees and will also surrender the 'certificate' referred to in the preceding sub-para to the concerned carrier.

  4. The airlines / shipping companies and their agents will not accept freight on FOB imports without Authorized Dealers' Certificate mentioned in sub-para (ii) above. The airlines / shipping companies will invariably attach the said 'certificate' in original alongwith the applications to be made to Senior Deputy Director (Operation), Foreign Exchange Department, State Bank of Pakistan, Central Directorate, Karachi, for allowing remittance of surplus freight collections.

3. The head offices of the Authorized Dealers are at present required to furnish to the Ministry of Commerce, Government of Pakistan, Islamabad, on weekly basis, a statement of import fee collected and deposited in the Government account in the format prescribed in Ministry of Commerce Notification No.568(I)/93 dated the 10th July, 1993. Since the requirement of import fee has been waived vide F.E. Circular No. 49 dated the 14th June, 1994, this statement need not henceforward be submitted to the above Ministry. The Authorized Dealers shall, however, continue to issue Annexure 'B' to F.E. Circular No. 31 of 1991 to the importers to enable them to get the goods cleared from the customs.

4. Please bring the above to the notice of your constituents.


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