The Head /Principal Offices of all
Authorised Dealers in Foreign Exchange
Dear
Sir/Madam
Liberalization
of Foreign Exchange Regime –
Information Technology Services
Attention of Authorised Dealers is invited to F.E. Circular
No.12 of July 07, 2004 on the captioned subject whereby
they were granted general permission to release foreign
exchange upto a maximum of US $ 100,000/= or equivalent
in other currencies, per invoice, for private sector companies
incorporated in Pakistan, for payments on account of utilization
of Information Technology services
With a view to enhance the scope of aforesaid permission,
it has been decided to extend the remittance facility for
payment on account of Information Technology services to
those branches of foreign companies also, which are operating
in Pakistan with the permission of Board of Investment to
undertake permissible business/commercial activities, pay
local taxes and periodically repatriate their profit abroad
under Para 13, Chapter XIV of Foreign Exchange Manual