Circular Letter No. 03 of 2004 |
29th April, 2004 |
The Head/Principal Offices of all
Authorized Dealers in Foreign Exchange
Dear Sirs,
IMPORT
LC –PORT OF DISCHARGE
Attention of Authorized Dealers is invited to Para 10, Chapter
XIII of the FEM, 8th Edition, 2002 which contains terms,
on which Letter of Credits may be opened.
2.
It is advised that while opening import Letter of Credits,
port of discharge should be specified as either Keamari,
Karachi or Port Qasim, Karachi under importer’s specific
instructions. The mention of “any port in Pakistan”
or “Karachi” as the port of discharge should
be avoided unless specifically required in the underlying
contract giving option to the foreign exporter in respect
of the port of discharge.
3.
Authorized Dealers are advised to bring the above to the
notice of their constituents.
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Yours
faithfully,
-sd-
(AZHAR KURESHI)
Director
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Endt.
No. 3-A /EPP-2 (47) Poly-2004 of date.
Copy
forwarded for information to: -
(i).
The Director, EPD, SBP, BSC (Bank), Karachi with a request
to please circulate the above in his Area Offices.
(ii). The Director, Accounts Department, SBP, Karachi.
(iii). The Director, Banking Inspection Department, SBP,
Karachi
(iv). The Director, Banking Policy Department, SBP, Karachi.
(v). The Director, Banking Supervision Department, SBP,
Karachi
(vi). The Director, Statistics Department, SBP, Karachi.
p.Director
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