of Exchange Companies is invited to Para 3 of F. E. Circular
No. 4 dated May 09, 2008 whereby Exchange Companies were disallowed
to export cash in U.K Pound Sterling, Euro and UAE Dirhams.
It has, now, been decided to withdraw the said instructions
with immediate effect.
Exchange Companies established under F. E. Circular No. 9
of 2002 will, therefore, be allowed to export all types of
FCYs other than US Dollars as per prescribed procedure and
declaration at SBP-Customs Joint Booths located at Jinnah
Int’l Airport, Karachi and Allama Iqbal Int’l
Airport, Lahore. The Exchange Companies shall, however, ensure
to receive the equivalent US Dollars against exported currencies
in their foreign currency accounts maintained with banks in
Pakistan within 3 working days. An evidence to this effect
should immediately be submitted to this department against
instructions related to the subject matter shall, however,
remain the same.