Circulars/Notifications - Exchange Policy Department  
 F.E. Circular No. 04
February 08, 1995 

All Authorized Dealers
In Foreign Exchange,

Dear Sirs,

RE-EXPORT OF GOODS FOR REPAIRS OR REPLACEMENT ETC. AND THEY’RE SUBSEQUENT RE-IMPORT

As Authorized Dealers are aware, State Bank has been approving the forms 'E' in respect of goods such as machinery parts, empty drums, watches, guns, musical instruments etc. which are required to be exported abroad for repairs or replacement on export-cum-import basis.

2. In this connection, attention of the Authorized Dealers is invited to the instructions contained in Chapter 20 "export-import Procedures" issue by the Ministry of Commerce vide Notification No.SRO.737(I) 94 dated the 26th July, 1994 in terms of which the Custom authorities can allow export-cum-import of the items sent abroad for repair or replacement on submission of the indemnity bond by the applicants. Consequently, State Bank will not henceforward approve any form 'E' for the purpose. In such cases, the applicants may approach the Custom authorities directly in the matter.

3. As regards remittances on account of repair / replacement charges, State Bank offices will consider to allow such remittances on case-to-case basis provided requests are received through the Authorized Dealers and are accompanied by the debit notes/invoices from the overseas parties.

4. As for freight on the inward / outward transportation of goods, transportation should be arranged through PNSC / PIA against payment of freight in local currency. State Bank offices will approve 'P' form / allow payment of freight in Pakistan rupees to PNSC / PIA on being approached on case-to-case basis provided the requests are accompanied by freight from the carriers.

5. Please bring the above instructions to the notice of your constituents.

 

       
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