Attention of the Authorized Dealers (ADs) is invited to FE Circular No. 08 dated April 19, 2003 regarding the revision of harmonized coding system (HS) and invisible receipt/payment codes for monthly foreign exchange returns.
2. In the process of adoption of international standards and compilation of balance of payments statistics in accordance with the IMF’s Manual on Balance of Payments and International Investment Position, sixth edition (BPM6), Statistics and Data Warehouse Department, State Bank of Pakistan, has updated ‘Foreign Exchange Returns (FER) -Code Guide’ together with ITRS client application. Summary of changes made is as follows:-
- Invisible purpose code list for receipts and payments has been revised following the guidelines of BPM6 in FER code guide and ITRS client application by adding new codes and amending the description of some existing codes.
- A new currency ACU-Japanese Yen has been added in FER code guide and ITRS client application.
- Latest Pakistan Custom Tariff has been updated in ITRS client application for facilitation of banks in reporting of HS codes associated with trade data.
3. Accordingly, all Authorized Dealers are advised to:-
- Download the latest version of ITRS client application (version 5.1) or higher from knowledge centre - DAP and install ‘NEW SETUP’ instead of ‘UPGRADE FROM PREVIOUS VERSION’.
- Use revised FER code guide placed at http://www.sbp.org.pk/fe_returns/codeguide.htm while reporting ITRS data.
4. The above changes will be applicable to ITRS data reporting from the month of August, 2020 onwards.
5. All other instructions on the subject shall remain unchanged.
6. Authorized Dealers are advised to bring the above to the notice of all their constituents and feel free to contact
any one of the following officers in case of any query in this regard.
7. Mr. Rizwan Ahmad
Ph # 021-33114973
8. Mr. Muhammad Saeed
9. Mr. Ghazanfar Aatzaz Amjad