Circulars/Notifications - Exchange Policy Department  
 EPD Circular Letter No. 12 of 2019

November 12, 2019


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

Dear Sir/Madam,

Amendments in Instructions regarding Advance Payment against Imports

               Attention of Authorized Dealers is invited to instructions issued vide EPD Circular Letter No. 01 of 2019 dated January 01, 2019 whereby import advance payment up to USD 10,000 per invoice was allowed for importers cum exporters for import of raw materials and spare parts for their own use only.

2.            In order to facilitate the manufacturing sector, the above instructions have been modified. Henceforth, Authorized Dealers are allowed to effect advance payment up to USD 10,000, or equivalent thereof, per invoice on behalf of manufacturing concerns for import of raw materials and spare parts for their own use only.

3.            Authorized Dealers are advised to ensure meticulous compliance of above and other applicable regulatory instructions including those of Para 6 Chapter 2 of FE Manual, which require Authorized Dealers, among others, to satisfy themselves that the transactions will not involve and is not designed for the purpose of contravention or evasion of any of the provisions of the Foreign Exchange Regulations Act, 1947 or of any rules, directions or orders made thereunder.

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


Yours truly,

Sd/-

(Arshad Mehmood Bhatti)
Director


Back to Circular Page / Home Page
       
Home
About SBP
Publications
Economic Data
Press Releases
Circulars/Notifications
Laws & Regulations
Monetary Policy
Help Desk
SBP Videos
Feedback
Contact us
What's New?
Speeches
Online Tenders
Web Links

Educational Resources
Regulatory Returns
Library
Rupey ko Pehchano
Events
Zahid Husain Memorial Lecture
Careers
Sitemap
 
Best view Screen Resolution : 1024 * 768
Copyright © 2016. All Rights Reserved.