Attention
of Authorized Dealers is invited to FE Circular No. 16
dated October 31, 2006 in terms of which Authorized Dealers
are required to submit the data of foreign exchange transactions
to Statistics and Data Warehouse Department (Formerly
Statistics Department) on revised format.
For
various policy measures, the State Bank of Pakistan frequently
requires company-wise information on different components
of Balance of Payments (BOP) based on data mainly reported
through International Transaction Reporting Standard (ITRS)
by the banks. Presently company wise data regarding foreign
exchange transactions is not available with Statistics
& Data Warehouse Department, SBP. In order to utilize
reported data for policy formulation and financial planning,
it has been decided effective from July 01, 2007 that
the foreign exchange transactions data for BOP will contain
the information about the entity/ company/ enterprise
involved in the foreign exchange transaction in addition
to other information as reported earlier. Authorized Dealers
would be required to record the National Tax Number of
the entity/ company/ enterprise involved in the foreign
exchange transaction in the specified column in the prescribed
schedule/return. The SBP will use NTN to identify the
respective entity according to the information obtained
from the CBR database.
Consequently,
Authorized Dealers may please find enclosed the revised
format of prescribed schedules/returns for strict compliance.
The data reporting software and data reporting portal
for on line reporting have also been revised accordingly.
Accordingly, Authorized Dealers are advised to ensure
the strict compliance of the following during the course
of Foreign Exchange Transactions:-
a) Record the NTN of each entity/enterprise on the basic
documents (e.g. E/ I/ R-Form) at the time of recording
the foreign exchange transactions;
b) Report NTN for each transaction/entry on schedule for
all transactions pertaining to business entities; and
c) Take extra care in recording and reporting NTN failing
which identification of entity can not be made from the
database.
In
case of any clarification / query, please contact Director,
Statistics & Data Warehouse Department, State Bank
of Pakistan at Fax 021-9212569 or e-mail [email protected]
Authorized Dealers are advised to bring the above to the
notice of all their constituents.
Enclosures:(08)