The
Head/Principal Offices of
All Authorized Dealers in Foreign Exchange.
Dear
Sirs,
EXEMPTION FROM ‘E’
FORM PROCEDURE FOR
EXPORT OF EDUCATIONAL BOOKS
With a view to further liberalize the Foreign Exchange regime,
it has now been decided that export of educational course
books for schools and colleges for Pakistani students and
other running under respective Embassies abroad are exempt
from ‘E’ Form procedure.
2.
In this connection, following paragraph may be added as
new para in Chapter XII, Foreign Exchange Manual (Eighth
Edition, 2002): -
Para ‘15-A’.
i)
Export of educational course books for schools and colleges
for Pakistani students and other running under respective
Embassies abroad are exempt from ‘E’ form procedure.
While making such transactions, Exchange Policy Department,
SBP BSC (Bank) will issue a No Objection Certificate with
the condition that exporter will obtain an endorsement from
the Customs Authorities on reverse of the NOC about Name/Title,
Number of books exported and their invoice value. The date
of export should also be mentioned specifically. The Exporters
will submit a statement on monthly basis to Exchange Policy
Department, SBP BSC (Bank) showing the amount due and receipts
on account of foreign exchange arising therefrom.
The
NOC issued in view of above exemption would be initially
valid for a period of one year only which may be renewed
subject to satisfactory performance. However, if exporter
fails to submit the required statement or keeps large balances
abroad, the facility should not be renewed and the case
should be submitted to Exchange Policy Department, SBP BSC
(Bank), Enforcement Section for necessary action at their
end.
ii)
While issuing NOC, Exchange Policy Department, SBP BSC (Bank)
should advise the Customs Authorities that the items are
exempt from ‘E’ form procedure.
iii)
The export of above-mentioned items being exempt from E-form
procedure will be reported on schedule A-1/O-1 with authentication
of exempted “E-form”. The specified code for
the same whichever is applicable, mentioned under the Section
X, Chapter 49 of HS Classification of coding system may
be used.
3. Please bring the above to the notice of your constituents.