After detailed deliberations/discussions with the stakeholders
including EPB and FPCCI, it has been decided to initiate
a voluntary scheme for contribution to the noble cause
of helping the earthquake victims of Northern areas
of Pakistan and Azad Kashmir. The salient features of
the scheme are as under: -
1. Effective from 2nd January 2006 and upto and including
31st December 2006, an Earthquake relief contribution
of Rs. 180/- (approx. equivalent to US$3 converted at
the notional exchange rate of US$ 1=Rs. 60) would be
collected by the Authorized Dealers out of the export
proceeds received by them against each E-Form, at the
time of realization of the export proceeds.
2. In case of advance payments received against intended
exports, an Earthquake relief contribution of Rs. 180/-
(equivalent to US$3) would be collected by Authorized
Dealers at the time of certification of E-Form/shipment.
3. In case of partial realization against an E-Form,
Rs. 180/- (equivalent to US$3) will be deducted at the
time of realization of the first tranche.
4. In case of one consolidated payment against two or
more E-Forms, Rs. 180/- (equivalent to US$3) will be
deducted against each E-Form.
5. The Authorized Dealer who receives the export proceeds
may deduct earthquake relief contribution of Rs. 180/-
(equivalent to US$3) after converting the export proceeds
in local currency. The amount so collected by the Authorized
Dealer should be transferred / deposited with SBP within
three working days after the end of each month. A monthly
statement showing the amount so collected/deposited
and the number of E-Forms against which the said amount
has been collected will be submitted by the Authorized
Dealer to the Exchange Policy Department, State Bank
of Pakistan, Karachi as per enclosed format.
6. This deduction will be voluntary. Any exporter, who
does not wish to contribute, may exercise the option
in writing to his banker in this regard. The option
can be exercised by the exporter at any time during
the year. The same will be applicable on export proceeds
realized after the date of exercising option.
7. Authorized Dealers will maintain with them all relevant
record/ data for onsite inspection by the SBP’s
Inspectors.
Please bring the same to the notice of all your constituents.
Encl: as above