All
Head Offices/Principal Offices
of Authorized Dealers In Foreign Exchange.
Dear
Sirs,
LAUNCHING
OF NEW SAVING SCHEME(S)
BY DIRECTORATE OF NATIONAL SAVINGS
Authorized
Dealers may be aware that Directorate of National Savings
has recently launched scheme(s) for Pakistanis that would
fetch foreign exchange for Pakistan. The Authorised Dealers
are advised to please report such transactions as follows:-
Code List No.5 Invisible Receipts
Long
Term Capital
The
receipts of foreign currency on account of sale of Special
Saving Certificates and Defense Savings Certificates may
be reported on schedule J/O-3 (Invisible Receipts).
Purpose |
Description |
Purpose
Code |
a) Sale of Special Savings Certificates and Defense Savings
Certificates |
Remittances received on account of sale of
Special Savings Certificates
and Defense Savings Certificates
|
9822
|
Code
List No.7 Invisible Payments
Investment Income
The payment of interest and repayment of principal amount
of SSC & DSC may be reported on schedule E-4/P-4 (Invisible
Miscellaneous Payments).
a)
Repayment of Principal (DSC, SSC) |
Remittances
made on account of repayment of principal
(DSC, SSC)
|
1822
|
b)
Payment of Interest on (SSC, DSC) |
Remittances
made on account of Payment of interest on
(SSC, DSC) |
1222
|
Accordingly, the phrase “and
National savings instruments” given in the description
against purpose code 9815 (code list No.5 Invisible Receipts)
and “It also includes – remittances on account
of sale proceeds of National Savings Instruments like Khas
Deposit Certificates etc.” against purpose code 1815
(code list No.7 Invisible Payments), may be deleted there
from.
You are requested to bring the above to the notice
of all the constituents.