Attention of Authorized Dealers (ADs) is invited to FE Circular No. 02 dated March 31, 2023 whereby a new Para 33A (Delayed Realization of Export Proceeds) was inserted in Chapter 12 (Exports) of Foreign Exchange Manual (FEM).
2. In this regard, it has been decided to withdraw the above referred FE Circular with immediate effect. ADs are advised to release the amounts held under lien of exporters, in pursuance of the above referred FE Circular.
3. Henceforth, ADs, while submitting Appendix-V20 and Appendix-V21 on fortnightly basis to FEOD-SBPBSC, shall report all overdue export bills. The Para 33 (ii) (a) Chapter 12 of FEM stands amended, accordingly.
4. ADs are further advised to bring the above instructions to the knowledge of all their constituents.