The Head/Principal Offices of all
Authorized Dealers in Foreign Exchange
Revised Reporting Format (Form R, Schedule J/O-3)
Attention of Authorized Dealers is invited to the instructions contained in F.E. Circular No. 16 dated September 10, 2003 read with those contained in Para 7 Chapter XXII of F.E. Manual 2002 regarding Declaration of Receipts above USD 10,000/- for the purpose other than exports and family maintenance through Form ‘R’ (APP V-118) and reporting of these receipts to the State Bank of Pakistan using Schedule J/O-3 (APP V-107). The said instructions are revised hereunder:
2. The Authorized Dealers are now required to include additional information about the status (Ultimate Controlling Parent – UCP or Ultimate remitter, head office, branch, subsidiary, associate, agent/bank, etc.) and country of the immediate remitter, country of the UCP/ultimate remitter in Form R. The additional information regarding the status and country of the immediate remitter, country of the UCP/ultimate remitter would be reported to the State Bank through Schedule J/O-3. For every item appearing in the schedule, Form R must be submitted to Statistics & DWH Department and other relevant Departments of the State Bank for the purpose of verification. Both Form R and Schedule J/O-3 have been amended accordingly and are enclosed for immediate implementation.
3. Authorized Dealers are also required to report the additional information to Statistics & DWH Department under monthly ITRS through DWH portal (DAG 4) w.e.f. November 30, 2011.
3. Keeping in view the importance of the information, the Authorized Dealers are strongly advised to take extra care in filling the forms and the reporting schedules. Strict punitive action will be taken against the ADs for reporting incorrect or incomplete information.
4. In case of any clarification, please contact Mr. Rizwan Ahmad, Joint Director on 021 99212570 or through e-mail [email protected]