Attention of the Authorized Dealers is hereby invited to Para 30, Chapter 13 (Imports) of the Foreign Exchange Manual relating to the subject.
2. In this regard, Authorized Dealers are henceforth allowed to effect import advance payment with appropriate due diligence, without prior approval of SBP, against irrevocable letters of credit or invoices, up to 100% of the value of letter of credit or invoice, as the case may be.
3. The revised instructions under Para 30, Chapter 13 of the Foreign Exchange Manual are enclosed as Annexure A, which are applicable with immediate effect. Import Advance Payments already made prior to issuance of these instructions, shall be treated as per previous regulations issued on the subject.
4. Authorized Dealers are advised to bring the above instructions to the knowledge of all their constituents for meticulous compliance.
Enclosed: As above (Para 30, Chapter 13 of FE Manual)
App-V-27A and V-27B
App-V31