The Head/Principal Offices of all
Authorized Dealers in Foreign Exchange
Sirs / Madam,
to Afghanistan and through Afghanistan to Central Asian
of Authorized Dealers is invited to EPD Circular Letter
No. 03 dated March 12, 2002 on the subject containing therewith
SRO No. 137(1)/2002 dated March 7, 2002 issued by the Ministry
of Commerce, Government of Pakistan.
In this regard, it is clarified that as per FE Regulations,
the export made against convertible currencies is subject
to Form ‘E’ certification by the Authorized
Dealers. Accordingly, the export proceeds received as per
sales terms are required to be surrendered in the inter-bank
market for which the concerned Authorized Dealer will issue
Proceeds Realization Certificate (PRC) at the prevailing
buying exchange rate and credit the equivalent rupees in
the PKR account of the concerned exporter.
view of peculiar nature of trade with Afghanistan, it is
emphasized that the Authorized Dealers will accept the cash
convertible currencies brought over their counter by the
exporters and convert the same at the prevailing buying
rate applicable for normal export proceeds for credit to
the PKR account of the exporter.
the banks will ensure that the said proceeds are backed
by proper export documents as per prescribed procedure and
terms & conditions issued from time to time.
bring the above to the notice of all your constituents.