All
Authorised Dealers,
In
Foreign Exchange
Dear
Sirs,
IMPORTS
Attention
of Authorised Dealers is invited to paragraph 14 of Chapter
XVI of Foreign Exchange Manual (7th Edition - 1992) in
terms of which they are allowed to approve applications
on Form ‘M’ upto an amount equivalent to
Rs. 5000/- per person during one calendar year
in respect of cost of medicines, hearing aids, braille
watches and small carts or parts of special gadgets for
the disabled persons or life saving instruments imported
by the applicants for their personal use. Remittances
for the purpose will be allowed by the Authorised Dealers
on behalf of their constituents on production of certain
documents.
2.
It has now been decided
by the Ministry of Commerce, Government of Pakistan vide
paragraph 9 of Import Trade and Procedure Order-2001-2002
that subject to the restrictions specified at paragraph
6 ibid, actual users may import any item or items provided
the total value does not exceed five thousand (5,000)
U.S. Dollars in one fiscal year.
3. Consequently, the existing
paragraph 14 of Chapter XVI of Foreign Exchange Manual
(7th Edition - 1992) may be recasted as under :-.
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IMPORT
BY ACTUAL USERS :- |
14.
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Authorised
Dealers may approve applications on Form ‘M’ upto
an amount equivalent to US$ 5000/- per person during
a fiscal year in connection with import of any item
or items by actual users on production of following
documents :- |
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a)
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Proforma
invoice/debit note in original. |
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b)
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Declaration
of the applicant that the amounts remitted by him
during the current financial year including the amount
of the present application do not exceed US$ 5000/-.
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c)
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Declaration
that the item/items so imported are for his personal
use only. |
4.
Attention of Authorised
Dealers is also invited to sub-para (d) of para 32, Chapter
XIII of the Foreign Exchange Manual, 7th Edition, 1992 in
terms of which they can issue foreign currency demand draft
upto US$ 7000/- for import of spare parts/machinery without
opening of letter of credit provided such import is made
by air or by courier.
5.
It has now been
decided by the Ministry of Commerce, Government of Pakistan
vide paragraph 10 of Import Trade and Procedure Order 2001-2002
that subject to the restrictions specified at paragraph
6 ibid the above ceiling has been enhanced upto US$ 15000/-
per fiscal year.
6.
Consequently, the words
“US$ 7000 per fiscal year for 1999-2000” appearing
in 3rd line of the existing sub-paragraph (d) of paragraph
32 of Chapter XIII of the Foreign Exchange Manual, 7th Edition,
1992 may be replaced with the words “US$ 15000/- per
fiscal year for 2001-2002”.
7.
Further, as provided
in para 10 of the Import Trade and Procedure Order 2001-2002
that subject to the restrictions specified at paragraph
6 ibid, imports through foreign currency demand draft may
be made subject to a ceiling of US$ 5000/- in one fiscal
year. Consequently, following paragraph may be added as
sub-paragraph (e) to paragraph 32 of Chapter XIII of the
Foreign Exchange Manual (7th Edition) 1992.