All
Authorized Dealers
in Foreign Exchange,
Dear
Sirs,
TRADE
WITH REPUBLICS OF FORMER USSR
Attention
of the Authorized Dealers is invited to F.E.
Circular No. 76 dated the 14th December, 1994
in terms of which exports to the Russian Federation C.I.S.
countries (Commonwealth of Independent State of the former
USSR) can be made against letters of credit opened / confirmed
b a prime bank in the country concerned or on consignment
basis against guarantee from a prime bank operating in
the concerned country. It has now been decided to withdraw
the above-mentioned condition. In other words, exporters
in Pakistan, at their sole discretion, are now free to
make exports to the C.I.S. countries either against letter
of credit / guarantee or on firm contract/consignment
basis.