The
Head/Principal Offices of all
Authorized Dealers in Foreign Exchange
Dear
Sirs /Madam,
Remittance
of Surplus Funds by Foreign Airlines
As
a further step towards liberalization of foreign exchange
regime and in order to facilitate Foreign Airlines in Pakistan,
the following amendments have been made:
1)
Under the existing regulations, in terms of Para 3(d), Ch.
XIV, FEM-2002, Foreign Airlines are required to submit application
along with all relevant documents including passage statement
(V-37) to Authorized Dealers for effecting remittances of
surplus passage and freight collection. Now, it has been
decided that instead of V-37, Foreign Airlines will henceforth
submit BSP Sales Statement which is being provided by the
International Air Transport Association (IATA) to each Airline
in Pakistan. However, data contained in V-37 statement should
readily be available with the concerned ticket issuing office.
2) Further, in terms of instructions contained in Para 6,
Chapter XVII, FEM-2002, at present Airlines in Pakistan
have been restricted from issuance of tickets to Saudi Arabia
or its adjoining countries during the Hajj Season i.e. from
10th Shawal to 10th Zilhaj each. Now, it has been decided
to waive this restriction and accordingly, Para No. 6 appearing
in Chapter XVII of FEM-2002 is hereby deleted.
Please
bring this to the notice of all your constituents.