Circulars/Notifications - Exchange Policy Department  
 FE Circular No. 07 of 2018

July 20, 2018

The Presidents/Chief Executives of all
Authorized Dealers in Foreign Exchange

Dear Sirs/Madam,

Imports on Open Account Basis

Attention of the Authorized Dealers is invited to Para 17, Chapter 13 of Foreign Exchange Manual-2018 in terms of which they are allowed to make remittances on behalf of importers against imports made on open account basis.

2.         It has been decided that, henceforth, the above mode of import shall remain available to manufacturing and industrial users for import of spare parts/raw materials only.

3.         The above restriction shall not apply on goods in transit where shipping documents (e.g. B/L, AWB, TR, RR, Courier Receipt etc.) have been issued on or before the date of issuance of this circular. However, Goods Declaration against such consignments must be filed by the importers with Pakistan Customs latest by August 10, 2018.

4.         All other instructions on the subject shall remain unchanged.

5.         Authorized Dealers are advised to ensure meticulous compliance of the above instructions.


Yours truly,

(Fazal Mahmood)

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