of Authorized Dealers is invited to F.E. Circular No.12
of July 07, 2004 and F.E. Circular No.15 of October 20,
2004 on the captioned subject in terms of which general
permission has been granted to release foreign exchange
upto a maximum of US $ 100,000/- or equivalent in other
currencies, per invoice for payments on account of utilization
of Information Technology services.
has, however, been noticed that Authorized Dealers invariably
require applicants to submit an NOC of Pakistan Software
Export Board, resulting in unnecessary delay/complications
for the remitter. It is therefore clarified that submission
of an NOC from Pakistan Software Export Board is not required,
for remittances upto US$ 100,000/-, in case of utilization
of Information Technology Services.
other instructions contained in F.E. Circular No.12 dated
July 07, 2004 and F.E. Circular No.15 dated October 20,
2004 will, however, remain unchanged.