Facility of 5% Retention of Export Proceeds for
Export of Cement
Attention
of the Authorized Dealers is invited to Para 32 (iii) of
Chapter XII of Foreign Exchange Manual (8th Edition) regarding
retention of export proceeds in Special Foreign Currency
Account of the exporter maintained with banks in Pakistan.
With a view to further liberalize the foreign exchange regime,
it has been decided with immediate effect to allow cement
exporters to retain 5% of export proceeds against the cement
exports in their Special FCY Accounts maintained with banks
in Pakistan. All other terms and conditions will remain
unchanged.
Authorized Dealers are advised to bring the above to the
notice of all their constituents.