in Foreign Exchange
terms of Import Trade and Procedures Order 2000-2001 issued
by the Ministry of Commerce vide thier Notification No.
SRO. 489(1)/2000 dated the 17th July, 2000, the requirement
of opening Letter of Credit for imports before shipment
has been done away with. Thus, shipment of goods before
opening of import letter of credit will no more construe
to be a violation of the Import Trade and Procedure Order
Authorised dealers are advised to bring the above to the
notice of their constituents.