Circulars/Notifications - Exchange Policy Department  
 FE Circular No. 06 of 2021

July 19, 2021


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

Dear Sir/Madam,

REVISION OF FOREIGN EXCHANGE REGULATIONS ON IMPORTS - CHAPTER 13 OF THE FOREIGN EXCHANGE MANUAL

      State Bank of Pakistan is in the process of reviewing the existing foreign exchange regulations in consultation with different stakeholders, including Authorized Dealers, in phased manner, with a view to align these regulations with the changing business environment and to enhance ease of doing business. In this respect, eleven chapters of the FE Manual have already been revised through FE Circulars No. 14 of 2018, 03 of 2019, 01 of 2021 & 05 of 2021 and placed at the SBP’s website.

2.            In this regard, Chapter 13 of FE Manual relating to imports has been revised. A number of significant changes have been made in the revised chapter to streamline the existing instructions, remove redundancies and delegate more powers to the Authorized Dealers. Some of the key changes made in the chapter are given hereunder:

  1. Para 6B (New): Instructions relating to execution of import payments under Pakistan Single Window system have been introduced.

  2. Paras 5, 9 & 13  (Amended): Regulations on incoterms, opening of letter of credit and remittances of excess amount under LCs/ Contracts have been revised to delegate powers to Authorized Dealers to process such requests by importers.

  3. Para 30 (Amended): Instructions on advance remittances against imports has been revised to align them with current business environment.

3.           The existing chapter of the Foreign Exchange Manual is being replaced with the revised chapter at the SBP’s website, which is available at the following link:  http://www.sbp.org.pk/fe_manual/index.htm

4.        Authorized Dealers are advised to bring the above development to the notice of all their constituents for meticulous compliance.

Yours truly,


Sd/-

(Athar Ghafoor)
Additional 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.