All
Authorized Dealers
In Foreign Exchange,
Dear
Sirs,
RELEASE
OF FOREIGN EXCHANGE FOR TRAVEL ABROAD
Attention
is invited to Para
1 (iv) of F.E. Circular No.
65 of 1993 in terms of which foreign Exchange in the
shape of currency notes is to be released to the travelers
intending to perform journey through land route upto US$
100/- only and the balance is to be released in the shape
of travelers cheques.
2.
It has now been decided that with immediate effect the above
restriction of release of foreign exchange only upto US$
100/- in the shape of currency will also apply to all other
types of travel i.e. journeys to be undertaken through ship/Air.
Authorized Dealers are, therefore, advised to issue subject
to entitlement, foreign exchange to Pakistan nationals (above
the age of 12 years) resident in Pakistan on account of
Private Travel Exchange Quota (PTEQ) in the shape of currency
notes upto US$ 100/- only while the balance of the foreign
exchange quota should be released in the shape of Travelers
Cheques, T.T., M.T. or Draft etc. as laid down in para
44 Chapter
XVII of the Foreign Exchange Manual. In case of children
between 2 and 12 years, US$ 50/- per head may be released
in the shape of currency notes and the balance in travelers
cheques, T.T., N.T., Draft