Updated: Monday November 23, 2009/AlEthnien
Thoul Hijjah 06, 1430/Somavara
Agrahayana 02, 1931, at 08:49:03 PM
The Foreign Assets’ (Declaration) Regulation, 1972
10th January, 1972
1. (1) This Regulation may be called the Foreign Assets’ (Declaration) Regulation, 1972.
(2) It shall apply to all citizens of
(a) bona fide students engaged in studies or training in a foreign country; or
(b) any person employed in any capacity in a foreign country; or
(c) a wage-earner residing in a foreign country.
2. In this Regulation, “person” includes a firm, association of persons,
body of individuals, whether incorporated or not, a company and any other
juridicial person.
3. (1) Any person who owns any movable or immovable property, not being
foreign exchange, in any country other than Pakistan shall declare on or before
the 15th February, 1972, to the State Bank of Pakistan its description and
value and the income derived therefrom in the manner laid down in paragraph 4.
(2) The movable properties declare under sub-paragraph (1) shall be repatriated to Pakistan on or before the 15th March, 1972, and the value of the immovable properties and the income derived therefrom so declared shall be repatriated to Pakistan on or before such date as the Federal Government may, by notification in the official Gazette, specify in this behalf, and different dates may be specified for different persons or classes of persons:---
Provided that the Federal Government may exempt any person from the operation
of the provisions of this sub-paragraph in respect of any immovable or movable
property held by him abroad for bona fide purposes of trade of business.
(3) A bonus of forty-five per cent shall be allowed by the State Bank of
(4) The rupees equivalent of any amount repatriated under sub-paragraph (2)
shall not be chargeable to any tax to which it would, but for this Regulation,
have been liable.
(5) In this paragraph “movable property” includes:---
(a) stocks and shares or other instruments the value of which can be expressed
in term of money;
(b) Jewellery; and
(c) any articles of household or personal effects the value of which exceeds
five thousand rupees.
4. (1) A declaration in respect of property under paragraph (3) shall be
made in the form of a statement which shall be signed by the person making it,
giving particulars of such properties and the incomes derived therefrom, if
any, and shall be submitted to any of the following officers of the State Bank
of Pakistan, namely:---
(a) Deputy Director, Exchange Control Department, State Bank of
(b) Manager, State Bank of
(c) Manager, State Bank of
(d) Manager, State Bank of
(e) Manager, State Bank of
(f) Manager, State Bank of
(2) A statement under sub-paragraph (1) may be delivered in person or may be
sent by registered most acknowledgment due.
(3) The date of handing over the statement to the officer concerned if
delivered personally, or to the Postal Department for despatch if sent by
registered post, shall be deemed to be the date of submission of the statement.
5. All declarations made under paragraph (3) shall be treated as
confidential and no Court or other authority shall be entitled to require the
production of any such declaration in any proceeding before it.
6. Any person who fails to submit a statement relating to his property
under paragraph (4) or to repatriate the same or the value or income thereof as
required by or under this Regulation or makes a statement which he knows to be
incorrect shall be punished with transportation for life and also with
confiscation either of the whole or any part of his property in Pakistan.
7. Any person who in contravention of any law for the time being in
force in Pakistan acquires or attempts to acquire any movable or immovable
property in a country other than Pakistan after the commencement of this
Regulation shall be punished with transportation for life and also with
confiscation either of the whole or any part of his property in Pakistan.
8. (1) The Federal Government may make such rules and issue such
directions not inconsistent with the provisions of this Regulation as it may
consider necessary for carrying out the purposes of this Regulation; and such
rules or directions may provide for matters for which no provisions or
sufficient provision exists in this Regulation.
(2) All rules or directions issued under sub-paragraph (1) shall upon being
notified in the official Gazette, be deemed to be part of this Regulation and
have effect accordingly.
9. No person shall be prosecuted for any contravention of any of the
provisions of this Regulation except with the sanction of the Federal
Government or an officer authorised by it in that behalf.
10. (1) Martial Law Regulation No. 35 issued by the Chief Martial Law
Administrator is hereby repealed.
(2) For the evidence of doubt it is hereby declared that no prosecution shall
lie against any person after the commencement of this Regulation for
contravention of any of the provisions of Martial Law Regulation No. 35
repealed by sub-paragraph (1).
APPENDIX FORM “P”
Foreign Exchange Regulation Act, 1947
Portion to be retained by the State Bank
Application to
effect booking of passage/s by sea or air or any other mode of conveyance on
payment in
I/We apply for permission to book the undermentioned passage/s for journey from....................to...............as per details given below :-
Name of Steamship/Airline Name of Steamer/Flight number/Date of Departureor other method of Conveyance |
Name of Steamer/Flight number/Date of Departure |
Destination |
Route |
Class of passage (i.e. first class, tourist class etc.) as the case may be |
Cost
of Passage in |
|
|
|
|
|
|
1. (a) Full name and address of the applicant. .........................
(b) G.I.R.
No. and Income-
2. (a) Full
name and Nationality of the passenger, his Passport No. and date of
issue. .........................
(b) Identity card number, date and place of issue. .........................
3. Relationship between applicant and passenger. .........................
4. Length of
residence of passenger in
5. Profession or business of passenger
within
6. Purpose of visit for which passage is
desired to be booked. .........................
7. The date on which the country of
destination was visited last. .........................
(Valid for one month from date of
approval for travel by air,
in case of travel by ship
valid for three months).
No.................
Date..............
M/s.................................................
.................................are hereby
(Name of carrier)
authorised to book the passage/s
of................................................ ......
(Name/s of passenger)
of...............................holding Passport No.............date of
issue.............
(Country of domicile)
by................................from............
...................to.............................
(Method of conveyance)
in..................................The passage should be booked by the normal
direct
(Class of Passage)
route to the destination, Cost of passage/s amounting to/not exceeding
Pakistani Rupees..............
may be collected from..............................................
...................in Pakistani Rupees.
(Name of person/Company paying the cost of passage/s)
STATE BANK OF PAKISTAN ASSISTANT CONTROLLER
EXCHANGE CONTROL DEPARTMENT
8. Was permission of the State Bank
sought for this passage in the
past by the passenger or by the
applicant or any person on his
behalf. If so, the name of the
office of the State Bank at which
the application was made previously
and its outcome may be disclosed. .........................
9. In case of rebated passage, certificate from the airline concerned should be
enclosed indicating rent of
rebated passage facility under IATA Regulations.
10. Consideration for which the rebated passage has been granted by the
airline. ........................
11. In the case *Non-Resident passenger :
(a) How funds were obtained for
support while in
(b) Particulars of remittance received
from abroad. .........................
For this purpose by the term “Non-Resident” is meant foreign nationals resident
in
I declare that the information furnished by me above is correct and in the
event of its being not correct, I hold myself liable for such action as may be
deemed fit under the Foreign Regulation Act, 1947.
.................................... (Signature of the applicant)
FORM T-1
FOREIGN EXCHANGE REGULATION ACT, 1947
Application for Foreign Exchange for Travel
If the applicant is an income
tax Name and address of Authorised
payer, please indicate : Dealer
G.I.R. No................... Identity Card No., date and
and the Income tax Circle... place of issue................
If applicant is not an income tax
payer, the word `Nil' should be
clearly stated.
I/We undersigned hereby apply to obtain Foreign Exchange as detailed hereunder
for travel abroad :
Amount Applied (state currency) |
Cash or Travellers Cheques |
Date proceeding |
Destination |
Purpose of visit |
|
|
|
|
|
The following members for whose benefit exchange is also applied for are
accompanying me :-
Name |
Age |
Relationship |
Particulars of Exchange required |
|
|
|
|
I/We hereby declare that :
(1) the amount of Foreign Exchange applied for is to cover the basic exchange
allowance for myself and members of my family as shown in the application or on
attached sheet and who are travelling with me for the journey as described
above;
(2) the amount of exchange drawn for each member of the family including self
shall be used solely for the living and travelling expenses of that person in
the countries for which exchange is sanctioned and that in the event of
cancellation, postponement or changes in the travel programme of any of those
persons, I undertake the full responsibility to resell, in compliance with the
sub-section (3) of Section 4 of the Foreign Exchange Regulation Act on
cancellations of (any of) the ticket(s) voucher(s) or my failure to depart as
indicated above I/We shall without delay refund the exchange drawn by me/us for
the journey which is not undertaken to an Authorised Dealer in Foreign Exchange
in Pakistan. If the journey is not undertaken within the validity of the
passage approval, I/We shall immediately apply to State Bank of
(3) the exchange issued to me under this form may only be taken out by me/us on
my/our departure from Pakistan and may not be sent out by post or through the
medium of any other person or by any other means;
(4) on my return to Pakistan I/We shall make immediate arrangements to resell
the Foreign Exchange which may be utilised to an Authorised Dealer in Foreign
Exchange in Pakistan;
(5) if I/We receive any foreign exchange through any other source for defraying
may/our expenses, etc., abroad, foreign exchange so obtained will be declared
on return to the State Bank of Pakistan. Further I/We will surrender to an
Authorised Dealer in
Name..............................
(Block Letters) Address...........................
................................ Signature of the applicant
...........................Phone No......................
Passport No............date..........Issued at........Nationality.....
(Valid for 30 days
from the date of issue)
STATE BANK OF
(if required)
Approved for...............................................
...........
Approved for............................................... ...........
(State amount in figures and words)
Approval No..................... ..................................
Signature and Seal of the
Date............................. State Bank of
To be completed by an Authorised Dealer
1. We have examined the
Passport/s, Pilgrim Pass/es or Emergency Certificate/s and confirm that their
particulars as given overleaf are correct.
2. We have examined the ticket/s voucher/s covering the passage/s booked for
the journey of the applicant (and him family if a group issue) the particulars
of which are below :
Ticket No./s |
Ship of Airline |
Schedule Date of Departure |
Immediate Destination |
|
|
|
|
3. We have issued the following exchange under this application as approved,
the particulars of which we have endorsed on the applicant's Passport/Pilgrim
Pass and (in case of group issue) on the Passport/Pilgrim passes of each person
for whom exchange is issued under this application.
Amount/s issued (stating currency)
(i) (ii)
Travellers Cheques Currency Notes
................................. .................................
................................. .................................
................................. .................................
Coding of Transaction by Authorised Dealer/State Bank
Country of destination.........................
Purpose/Category of Travel....................
Department....................................
Amount of Foreign Exchange drawn (in figures)
(In words)............................................
......................................
I hereby certify having received the exchange issued to me as above.
.................................. Signature of the applicant
THE SENIOR DEPUTY
DIRECTOR
EXCHANGE CONTROL DEPARTMENT,
STATE BANK OF
Dear Sir,
Please approve the enclosed P/P2 form/issue NOC for travel by
(Country) (Purpose)
I give below particulars of my Passport and of my family members going with me.
Name |
Profession |
Place of |
Passport |
Place of issue of previous Passport |
Date of return from last visit |
|
|
|
|
|
|
2. The name of my present/last employer in
Name & Address........................................... .
3. My expenses outside
Name and Address...........................................
4. I/We shall stay abroad for...............days and close form T/T-1 duly
completed for the release of
5. I enclose photo-stat copies of the following documents :
(i) NOC of................................................ ..
(ii) Certificate from present/last employer.
(iii) Retirement order from Government/Semi-Government Service.
(iv) Tickets/PIA/Passage order of....................Airline/Shipping Company
paid for abroad.
(v) Visa or entry Permit for Work/stay/joining/immigration.
(iv) Employment Letter/Service Agreement.
(vii)............................................. ...........
(viii) .................................................. ....
(For official use only) |
6. The name and address of my employer abroad is given below : My Employer
will/will not pay me cost of passage in foreign exchange according to Service
Arrangement.
7. The additional information in connection with my/our travel abroad is as
under :
I declare that the information furnished above by me is true to the best of my
knowledge and belief and that nothing relevant to the above information has
been omitted or suppressed. I under stand that if the information found to be
incorrect I shall be liable to action under the Foreign Exchange Regulation
Act, 1947.
I hereby untertake to surrender my passport to the State Bank of
I/We have no other passport/s.
Your faithfully, (Signature/Thumb impression) Name.........................
Address...................... ......................
FOREIGN EXCHANGE
REGULATION ACT
(VIII OF 1947)
Application to effect booking of passage/s by sea or any
other mode of conveyance on payment in Pakistan Rupees
I/We apply for permission to book the undermentioned passage/s for journey
from....................to............
...as per details given below :
Name of Steamship/ Airline or any method of conveyance |
Designation |
Countries en route to be visited |
Class of Passage (i.e. first class etc., as the case may be) |
Cost of passage/in Pakistan Currency |
1. (a) Full Name/nationality
and address of the
applicant. .........................
(b) G.I.R. No. and Income-
case the applicant is income-tax payer in
2. Full name and nationality of the
passenger/s passport number/s and date
of issue. .........................
3. Relationship of the applicant with
the passenger/s. .........................
4. Length of residence of passenger/s
while in Pakistan/abroad. .........................
5. Profession or business of passenger/s
while in Pakistan/abroad. .........................
6. Purpose of visit for which passage is
desired to be booked. .........................
7. The date on which and the country
visited last. .........................
FORM `P' Counterfoil
(Valid for one month from date of approval)
No................
Date..............
M/s................................................. .........are authorised to
book the passage/s of...............................
(Name/s of passenger/s)
of...............holding Passport number/s............................date of
issue.................by.......................... .from..............................
(Method of Conveyance)
to................................................
.......................................
(Class of Passage)
The passage should be booked by the direct route to the destination cost of
passage/s amounting to not exceeding Pak. Rs..................may be collected
from.............................................. .......................
(Name of person/s Company paying the cost of passage/s)
in Pakistan Rupees.
Senior Deputy Director
E.C.D., S.B.P., C.D.,
8. Was permission of the State Bank ......................................
sought for this passage in the ......................................
past by the person on his ......................................
behalf? If so, the name of the ......................................
office of the State Bank at which .......................................
the application was made previously ......................................
and its outcome may be disclosed. ......................................
9. In case of rebated passage,
certificate from the airline ......................................
concerned should be enclosed ......................................
indicating remit of rebated ......................................
passage facility under IATA ......................................
Regulations. ......................................
10. Consideration for which the rebated
passage has been granted by the airline. ......................................
11. In the case Non-Resident passenger:- ......................................
(a) How funds were obtained for
support while in
(b) Particulars of remittances
received from abroad. ......................................
I declare that the information furnished by me above is correct and in the
event of its being not correct, I hold myself liable for such action we may be
deemed fit under the Foreign Exchange Regulations.
(Signature of the applicant)
For this purpose by the term “Non-Resident”
is meant Foreign Nationals, resident in
THE SENIOR DEPUTY
DIRECTOR
EXCHANGE CONTROL DEPARTMENT
STATE BANK OF
Dear Sir,
Please grant NOC/approve enclosed Form P/P-2 for my/our travel abroad
for........................................and sanction me/us U.S.
Dollar............................for expenses abroad for which (Purpose)
Form T-1 is enclosed. Last I/We travelled abroad on.................
Date
and return on.....................
Date
Yours faithfully,
(...............................)
(Name)
Address.......................... ................................
(For official use only) Airline/Shipping
Company be issued within T/T-1 for |
FORM P-2
(to be submitted in duplicate)
Application to
book passage for a destination outside
against paid travel advices/tickets paid for abroad or 100%
Rebated Tickets
1. (a) Full Name and address of
the applicant. .................................
(b) Full Name/s of the
passenger/s. .................................
2. Nationality of the passenger/s
Passport number/s and date/s
of issue. ..................................
3. G.I.R. No. and
in case the applicant is income
tax payer in
write `Nil'. .................................
4. Full name, address, nationality
and occupation of the person who .................................
has made payment for the ticket
outside
ticket received from abroad. In
case of 100% rebated ticket .................................
certificate from the Airline
concerned should be enclosed .................................
indicating grant of 100% rebated
passage facility under IATA .................................
Regulations.
5. Purpose of visit for which passage
is desired to be booked. .................................
6. Consideration for which payment
has been made by the present at .................................
4 above or the consideration for
which 100% rebated passage has .................................
been granted by the Airline.
7. Exact relationship of the applicant
with the payer. .................................
(Signature of the applicant)
(Valid for three months from the date of approval)
M/s................................................. .............are hereby
authorised to book passage for
Mr./Mrs./Miss...............to............................. against 100%
rebated ticket/tickets for abroad as mentioned above. No payment is to be
accepted in Pakistan Rupees.
Approval No.....................
Dated...........................
P. Senior Deputy Director
FORM
Offering Sheet
1. Name of the party.............................................
2. Limit sanctioned......................Margin............ ......
3. Facility applied for :
Amount Previous Outstanding
(i) Letter of Credit ....... ..........................
(ii) Forward Exchange ....... .........................
(iii) Foreign Bills
Purchased ....... ..........................
(iv) Guarantees ....... ..........................
(v) Trust Receipts ....... ..........................
(vi) Clean Packing
Credits ....... ..........................
(vii) Advance against
imported goods ....... ..........................
4. Goods............................................. ........................
5. Import Licence........................................... ..............
6. Margin already at credit............................................ .
7. Margin to be obtained.......................................... ......
8. Guaranteed by................................................ .........
9. Balances in Current Account.......................................
10. Average Balance........................................... ..........
11. Net worth............................................. ................
12. Customs Duty.............................................. ..........
13. Country of Export............................................ ......
14. Bills Outstanding....................................... .............
15. Other conditions........................................ ............
Sanctioned
.............198 Manager
(Place)
FORM
The Manager
...........................Bank
Ltd.
Our Credit No.................................
Air Mailed/Cabled............................. STAMP
Date..........................................
Application and Agreement for Irrevocable Letter of Credit
We/I hereby request you to open by air mail/cable on our
behalf an irrevocable credit as follows :
You will instruct your correspondent at.............to negotiate the drafts of
(State Name of the Beneficiaries and full
address).......................................... ..................................................
......................................
without recourse
..................................................
..................................................
..........................................to
with recourse
there to the extent of (State amount of Credit).......................draft to
be drawn on................................................ ..(State terms of
Drafts)...................at.................sight forbe (State nature of goods
to be imported also quantity, if necessary) From (State Name of
Port)........................to................... part shipment allowed/not
allowed. Transhipment allowed/not allowed Drafts negotiated under this credit
are to be accompanied by shipping documents satisfactory to your said
correspondent and are to include beneficiary's signed invoices in quadruplicate
certifying merchandise to be of (Country of Origin)............origin. Invoices
are to include the amount of freight prepaid and may include demurrage and/or
warehousing charges. On board ocean Bills of Landing showing “freight prepaid”
and shipment by (steamer or Post Parcel)................made out to the order
of or “order” and endorsed in favour of.............. Bank Limited. Through
Railway Bills of Landing are unacceptable.
Insurance has been covered by us through.........................Bills of
Landing must be dated not later than.........................Bills of Exchange
must be dated and negotiated not latter than...............................
You will engage with the drawers, endorsers, and bona fide holders or drafts
drawn and in compliance with the terms of his Credit that such drafts will be
duly honoured on delivery of documents as specified if presented before expiry
date.
This application shall be deemed to have been accepted and this Credit deemed
to have been issued when written advice thereof has been delivered to the
beneficiary.
Additional conditions........................................
.................................................. .............................
..................................................
..................................................
..............................................
We confirm that except so far as otherwise expressly stated our Letters of
Credit application therein is subject to the Uniform Customs and Practice for
Commercial Documentary Credits fixed by the Thirteenth Congress of the
International Chamber of Commerce.
In consideration of your opening your irrevocable Credit, in the above terms
and conditions the undersigned unconditionally agree as per conditions
overleaf.
CONDITIONS
1. To accept or pay upon presentation all drafts drawn pursuant thereto.
2. Notwithstanding anything contained in this agreement you may on payment
debit our account with all sums paid in connection with this Credit, the
documents, or the goods including Commission, interest and Charges or with the
whole or part of the amount of the Credits at any times if you think fit and on
demand we will place you in funds to meet such debits. In the case of Credits
in currencies other than Rupees you may at any time or times as you may think
fit, pass any such debits in the currency of the Credit and/or in Sterling
and/or in Rupees at your date(s) of exchange unless otherwise arranged. Without
effecting your rights as before mentioned, we agree duly to accept and pay at
maturity any Bills drawn upon us under this Credit or to provide you with funds
to meet any Acceptances given by you under this Credit three days before due
date or earlier if required. We will place you in funds in the currency are
given, or at your option in Rupees at your selling rate of exchange for the
currency. In the event of any default, you may sell the documents, or goods
before or after arrival and any deficit we will pay you on demand as aforesaid
and we will indemnify you against all claims, demands, costs, charges, and
expenses incurred in connection with this Credit.
3. To pay on demand your commission which shall be determined by the Bank from
time to time, on the full amount of the Credit.
4. Until the payment of every indebtedness and liability absolute or contingent
which now is or hereafter may become due and owing by the undersigned to you on
any transactions now or hereafter had with you, including transactions under
other Letters of Credit, the undersigned agree that title and ownership of all
goods shipped under or in connection with the said Credit or in any way
relating thereto whether or not released to the undersigned against trust or
bailee receipt and/or of the proceeds of such goods and of all Bills of
Landing, policies or certificates of insurance or other documents given
therefor, shall be and remain with you, and the undersigned hereby give you
full power and authority at your direction, by yourselves or through agents at
any time, to have and take possession thereof and all policies, or certificates
of insurance thereon, and proceeds of such policies and certificates, and to
hold and/or collect the same or under the terms expressed below, to dispose
thereof at any time and irrespective of the maturity of the drafts or
acceptance under the said Credit.
5. In the absence of written instructions given by the undersigned expressly,
to the contrary, the undersigned authorize you and your correspondents to
receive and accept as “Bills of Lading” under the said credit, any documents
issued by or on behalf of any carrier including lighterage receipt, which
acknowledges receipts of goods for transportation, whether the specific
provisions of such documents and the date of each such documents to be regarded
as the date of Bills of Landing and/or of shipment within the terms of said
Credit and the undersigned authorise you or your correspondents to accept as
sufficiently evidencing “Insurance” under the said Credit either policies or
certificates of such insurance.
6. The undersigned assume all risks of acts of any person using the said Credit
who are hereby accepted as the agent of the undersigned, together with all
responsibility for the character, kind, quality, quantity, delivery or
existence of the merchandise purporting to be represented by any document
and/or for any difference of character, quality, or quantity of merchandise
shipped under this Credit from that expressed in any invoice accompanying any
of said draft and/or for the validity, genuineness sufficiency from or
correctness of any documents, even if such documents should, in fact, prove to
be in any or all respect incorrect, defective, irregular, fraudulent, or
forged, and/or for the time, place, manner or order on which shipment is made
and/or for partial or incomplete shipment and/or the failure or omission to
ship any or all of the merchandise, referred to in the Credit and/or for the
character, adequacy, validity or genuineness of any insurance, or policy or
certificate of Insurance or the solvency of responsibility of any Insurer or
any other risk connected with insurance and/or for any delay, default, fraud,
or deviation from instructions of the shipper or any one else in connection
with said merchandise or the shipping or other documents, with respect thereto
and/or for delay in arrival or failure to arrive either of the merchandise or
of any of the said documents and/or for any breach of contract between the
shippers or vendors and the undersigned hereby agree not to claim from you
damages or hold you in any manner responsible for any delay, oversight or
mistake or negligence on your part or on the part of you or sub-agents in
issuing the Credit or in complying with any instructions of the undersigned or
otherwise in relation to the application to the said credit and the undersigned
will hold you harm .... less from all loss or damage in respect of any such
matters and from any and all damage and loss, whatsoever suffered by you by reason
of any and all action taken by you or your correspondent in good faith in
furtherance of our above request due to errors, omissions, interpretations or
delays in transmission or delivery of any and all messages, by mail, cable
telegraph or wireless whether or not the same, be in cypher.
7. The undersigned agree to be caused to procure promptly the necessary import
and export or other licences for the said merchandise and will keep them
adequately covered by the policies of fire, marine and war-risk insurance in
companies satisfactory to you, assigning the policies or certificate of
insurance to you or making the loss adjustment, if any, payable to you, at your
option.
8. And the undersigned agree to give you on demand any further or other
security you may require, and further agree that any and all other funds,
credit instruments, property and securities and proceeds thereof including also
all collection items and proceeds thereof now or hereafter handed to you or for
any purpose left in your possession by the undersigned or for their account, or
at their disposal, for transit to or from you by mail or carrier, for any of
the said purposes, are hereby made security for this obligation, and also for
any and all other obligations, and/or liabilities absolute or contingent due or
not due, which are or may at any time be owing by the undersigned to you and
may be held or disposed of as you may see fit, and applied, towards payment of
any and all such obligations and liabilities, all of which in the event of
default by the undersigned in any part thereof or bankruptcy, insolvency,
receivership or general assignment of the undersigned, shall subject to your
option forthwith become due and payable and the undersigned, hereby authorize
you if any obligation covered by this instrument or any other indebtedness due
from the undersigned to you shall not be punctually met forthwith without
further demand or notice or advertisement of any kinds, all of which are hereby
expressly waived to sell or otherwise dispose of the whole or any part of the
said funds, credits, instruments, property and securities, arrived and/or to
arrive at any broker's exchange or by public or private sale or otherwise, at
your option, with permission to yourselves to recover from the purchases in
whole or in part without accountability save for the purchase price and free
from any right of redemption, which is hereby waived and released; and to apply
the net proceeds thereof against any and all obligations or liabilities of the
undersigned to you, however, arising.
9. The receipt by you at any time of other collateral of whatsoever nature,
shall not be deemed a waiver of any of your rights, powers relating to any
collateral which you may held at the time of receipt.
10. This obligation is to continue in force notwithstanding any change in
membership or any partnerships of the undersigned or whether arising from the
death or retirement of one or more partners or the accession of one or more new
partners.
11. This Letter of Credit can be revoked or altered only with the consent of
all parties interested.
12. That whenever shipments are made to Ports other than
13. The documents accepted in connection with this Credit may be those which are
generally acceptable in accordance with the laws, customs and usages at the
place of negotiation.
14. This will also constitute an agreement between the undersigned and your
correspondent whom you may employ (as you are at liberty to do) for the purpose
and in connection with the Credit agreement.
15. I/We authorise you to debit my/our account with all your charges on account
of this Credit, including amendments, extension of this Credit, as well as
charge levied by your overseas correspondents of Agents.
16. We forward herewith our cheque for Rs.............
Please debit my/our a/c with all commissions and expenses.
% margin Rs.......................
Commission Rs.......................
Postage Rs.......................
Cable charges Rs.......................
.........................
Signature (Openers)
We guarantee due compliance with the terms of the above credit agreement to the
bank issuing, drafts thereunder and to hold the said banks harmless from all
loss or damage in respect of any matters and from any/all damage or loss or
whatsoever suffered by the said banks by reason of any action taken under the
above Credit agreement.
Signature (Guarantors)
Note ::-In any special document (over and above what is usually termed shipping
documents) are required such as health inspection or analysis certificate or
any special or unusual kind or class of insurance, such documents should always
be specially mentioned and included in the application.
Liability Rs..........................................
FORM
STAMP
Application for confirmed, Irrevocable and without Recourse
Letter of Credit under A.I.D. Arrangements
Address................... Date..................19......
To,
...............BANK LTD.
Dear Sirs,
I/We request you to open by Airmail/Cable through..............a Confirmed,
Irrevocable and without Resource to Drawers Letter of Credit for my/our account
and risk in terms of A.I.D. Purchase Authority Number...............and under
Sub-Authorisation No...........................in my/our name in favour of
Messrs............................................ ......
of...............................................a vailable to aggregate sum
of................................................ .....
(Say.......................................by their drafts to be drawn on me/us
at sight for invoice cost of shipment purporting to
be...............................From.............
......................to..........................
..........................Partial shipment is allowed/not allowed.
Transhipment is allowed/not allowed.
2. Drafts to be accompanied by the following shipping documents unless
otherwise specified ::-
(a) Signed beneficiary's invoice in quadruplicate certifying merchandise to be
of......................Origin. Invoices are to include the amount of freight
prepaid. Three copies of the Invoices to be sent with the original documents by
Airmail and the remaining copy to follow with the duplicates by Sea Mail.
(b) “On Board” negotiable Clean Ocean Bills of Landing “Freight Prepaid” and
shipment by Steamer/M.V. bearing flag of........made out to the order
of................................................ ....
(Name of designated Bank)
or “To Order” and endorsed to................................
Bills of Landing are to mention ::-
(Name of designated Bank)
Notify : (i)...................
(ii)..................
(c) The Insurance is covered by me/us.
(d) Beneficiary's certificate that correct goods have been supplied, and that
at the time of loading one copy (or photostat copy) Ocean Bills of Landing (or
Parcel Receipts where shipment by Post Parcel is permitted) and (ii) Supplier's
Invoice have been sent to the Controller, U.S.O.M. American Embassy, Karachi,
and that the A.I.D. marking requirements as specified in Section 201.12 of
A.I.D. Regulation I as revised in July, 1955 have been complied with.
(e) Any other documents required by A.I.D. Washington, under the relative
Purchase Authority to be called for by the designated U.S.A. Bank in addition
to the documents mentioned above.
3. (a) Bill of Landing should be dated not later
than.............................................. .......................
(b) Bill of Exchange should be dated and negotiated not later
than.............................................. ...
4. Drafts should be enfaced as required by the designated Pakistan Bank and
should bear the clause “Payable at the rate of exchange specified by the State
Bank of
5. The above documents are to be surrendered to me/us against payment.
6. All Bank charges are for my/our account.
7. I/We confirm that the agents used by.........................for this
purpose will be deemed as my/our agents.
(Name of designated Bank)
8. I/We also confirm that the rules, regulations and directions as issued and/or
laid down by the A.I.D. the State Bank of Pakistan, the Chief Controller of
Imports and Exports, Government of Pakistan and applicable to such imports
under the A.I.D. Programme have been and will be duly complied with by me/us.
9. The import of these goods is permitted under the Purchase Authority
Sub-Authorisation Numbers referred to above which should be indicated in all
documents.
The................................and............ ....................
(Designated Pakistan Bank)
(Designated United States Bank)
are mentioned as designated Banks in the Sub-Authorisation.
10. (a)
(b) Contracting Period. From...........................
..........ending.................................. .......
(c) Delivery Period. From.............................
..............ending.............................. .........
(d) (i) Amounts Sub-Authorisation U.S. dollars..............
(ii) Rupee equivalent....................................
(e) Basis of delivery (F.O.B./F.A.S./C. and F.)
(f) Special instructions, if any.
11. In consideration of the opening of the above Credit, I/We hereby undertake
to accept and pay in due course all drafts drawn within the terms thereof
and/or to take up and pay for all documents negotiated thereunder, on
presentation.
The transmissions under the above Credit and the forwarding of documents are
entirely at my/our risk. You are not to incur any liability beyond seeing that
the drafts and documents purport to comply with the terms and conditions of
this credit.
Yours faithfully,
N.B.:-All alterations and additions to this application are to be initialled by
the applicant
FORM
Letter of Credit Advice
....................Bank Limited
To................................. Our Credit No.................
.............................. Place.........................
.............................. Date..........................
OUR CONFIRMED IRREVOCABLE LETTER OF
CREDIT No.............(which please quote)
This is in confirmation of our cable
dated............................................. ..........
At the request of Messrs...................................we have opened an
Irrevocable Credit without recourse, in favour
of................................................ ....................available
to the aggregate sum of.....................................say........
..................................................
.........at......................sight for.............................invoice
cost of shipment purporting to
be................................................ ......
from..........................to.................. .Partial
Shipment.......................................... ...........
Drafts are to be accompanied by the following shipping documents:
(a) Signed beneficiary's invoice in sextuplicate certifying merchandise to be
of..................origin Invoices should show the amount of freight pre-paid.
Five copies of the invoices to be sent with the original documents by Airmail
and the remaining copy to follow with the duplicates by sea mail.
(b) “On Board” negotiable Ocean Bills of Landing showing “Freight prepaid,” and
shipment by....................................made out to the order
of................Bank Ltd., or “To Order” and endorsed to...............Bank
Ltd. All negotiable copies are required. Through Railway Bills of Landing are
unacceptable. Bill of Lading must bear the mention ::-
Notify............................................ .....
(c) Insurance has been covered in
Full details of all shipments/despatch under this credit must be advised by the
beneficiary immediately after shipment/despatch credit
to................................................ ....................by
registered post; copy to buyers by ordinary airmail giving reference to
Cover/Policy No.....................dated...................... ....and quoting
this L/C No. A copy of this advice alongwith their certificate to the effect
that the required letter was actually despatched as soon as possible after
shipment to accompany each set of documents.
Bills of Lading must be dated not later than.....................negotiated not
later than............................
................................Additional
conditions........................................
.........................................
.................................................. ..................................................
........................................
Drafts should be enfaced, “Drawn under......................Bank Limited Letter
of Credit No........................Payable at their selling rate of exchange
at Karachi with interest at........per cent per annum from date hereof to
approximate date of arrival of Cover
in................................................ .... “Negotiate drafts for
face amount Reimburse yourselves to the debit of our Pakistan Account with..............................................
..................................................
......................................
We engage with the drawers' endorsers and bona fide holders of drafts drawn
under and in compliance with the terms of this credit that such drafts will be
duly honoured on delivery of documents as specified is presented before expiry
date.
Advice beneficiary. Forward drafts and all documents negotiated direct to us.
Original by Air Mail and Duplicate by Sea Mail.
This credit shall be deemed to have been issued when advice thereof has been
delivered to the beneficiary. Bills negotiated must be marked off on the back
of the advice at the time of negotiation.
(TO BE USED FOR RE-IMBURSEMENT CREDITS)
Please reimburse as per standing arrangements by drawing on......against a
duplicate set of each document required under credit herein with the following
certificate :
“All terms of................Bank Limited................Letter of Credit
No......................dated..................... have beencomplied with and
all remaining documents have been sent by us to the.................Bank
Limited.
Please send the original sets of documents direct to us except one duplicate
set which is to be sent to the above-named Reimbursing Bank.
For...............................Bank Limited
Accountant Manager
SUMS DRAWN UNDER THE WITHIN CREDIT
Date |
Amount in words |
By whom Negotiated |
|
|
|
LETTER
OF CREDIT ADVICE
(In case of Air/Postal Shipment)
.................Bank Limited
To............................
......................... Place ........................
......................... Date ........................
Dear Sir,
OUR CONFIRMED IRREVOCABLE LETTER OF
CREDIT No.........(which please quote)
This is in confirmation of our cable dated......................
At the request of Messrs.........................................we have opened
an Irrevocable Credit without recourse, in favour
of................................................
....................available to the aggregate sum
of.....................................say........
..................................................
.........at...................sight
for.................................invoicecost of shipment by Air Freight/Post
Parcels purporting to be ........
Drafts are to be accompanied by the following documents unless otherwise
specified :-
(a) Signed beneficiary's invoice in sextuplicate certifying merchandise to be
of..............origin and stating the particulars and cost of goods. Invoices
are to include the amount of postage/Air freight if prepaid. Five copies of the
invoices to be sent with original documents by Airmail and the remaining copy
to be sent with the duplicates by sea mail by the negotiating bank. Where the
invoices relate to goods by parcel post they must give the following
information.
Parcel No., Sender's Name, Post Office address and date, particulars of
contents and private marks.
(b) Air consignment Notes marked Freight paid/To collect evidencing despatch by
Air freight to.........BANK LIMITED..............indicating our L/C
No........................and marked.
Notify..................................Postal Receipts marked “Postage paid”
evidencing despatch by Post Parcel to .......................BANK
LIMITED..........................including our L/C No..............which number
must also appear on parcels.
(c) The insurance has been covered by the importers in
Additional conditions ..................................................
..................................................
Air Consignment Notes/Post Parcel Receipts must be dated not later
than...............................
Bills of Exchange must be dated and negotiated not later
than.............................................
Drafts should be enfaced, “Drawn under..............BANK LIMITED Letter of
Credit No.............Payable at their selling rate of exchange at Karachi with
interest at...........per cent per annum for date hereof to approximate date of
arrival of Cover in..............”Negotiate drafts for face amount Reimburse
yourselves to the debit of our Pakistan Account with.....................
We engaged with the drawers endorsers and bona fide holders of drafts drawn
under and in compliance with the terms of this credit that such drafts will be
duly honoured on delivery of documents as specified if presented before expiry
date.
Advice beneficiary. Forward drafts and all documents negotiated direct to us.
Original by Air Mail and Duplicate by Sea Mail.
This credit shall be deemed to have been issued when advice thereof has been
delivered to the beneficiary. Bills negotiated must be marked off on the back
of the advice at the time of negotiation.
TO BE USED FOR RE-IMBURSEMENT CREDITS
Please reimburse as per standing arrangements by drawing on...... against a
duplicate set of each document required under credit herein with the following
certificate :
“All terms of..................Bank Limited..............Letter of Credit
No...........dated...............have been complied with and all remaining
documents have been sent by us to the.............Bank Limited.
Please send the original sets of documents direct to use except one duplicate
set which is to be sent to the above-named Reimbursing Bank.
For.................Bank Limited
Accountant Manager
SUMS DRAWN UNDER THE WITHIN CREDIT
Date |
Amount in words |
By whom negotiated |
|
|
|
FORM
ADVICE TO IMPORTER AT THE TIME OF LODGEMENT
To,
................BANK LIMITED
Date
Place
Received from
L/C No.
Our B.R. No. Foreign Currency
Drawers
Due Date
Dear Sirs,
The above bill has been received by us. Kindly effect payment as soon as
possible. The necessary I.M.P. Form is enclosed which please return to us duly
completed and signed along with your remittance.
Please note that overdue interest will be charged @.............% if not paid
within three days.
Name of Steamer
Import Licence No.
I.M.P. Form No. Accountant
FORM
CUSTOMER DEBIT ADVICE
..............BANK LTD.
To,
Place...................
Date....................
Our B.R. No.
Memo of Bill Paid
Received from................
Drawers......................
Foreign Currency.............
L/C No.......................
Name of Steamer..............
Import Licence No............
I.M.P. Form No...............
Accountant
FORM
REMINDER TO IMPORTER FOR SUBMISSION OF IMP. FORM
.........................BANK LIMITED
Please Quote Ref.
Dear Sirs,
Bill for
Paid on
With reference to the above item, we have to advise that the last date for
submission of the Customs Certified invoice/
Exchange Control Copy of the Bill of Entry to the State Bank of
We shall be pleased if you will kindly forward to us, without any further
delay, the requisite document for onward
transmission to the State Bank of
Kindly give this matter your immediate attention as the Exchange Control
Authorities are pressing us for the
aforesaid document.
Your faithfully,
Pro. Manager
FORM Q.A. 22
Form of undertaking to be furnished by foreign nationals resident
in Pakistan and companies and firms whose head offices are
outside Pakistan for maintaining Bank account
To,
The Manager/Agent,
(Name of Bank)
Dear Sir,
I/We hereby certify that the credits paid into my/our account with your bank
relate normally to my/our trading business in Pakistan only and consist of the
following :
(here state the principal sources form which rupee payments into the account
are derived, e.g., payments received for goods sold, stating general nature of
goods).
In consideration of the State Bank of Pakistan agreeing to dispense with my/our
completing Form A-7 in respect of every credit to my/our account, other than
from non-resident account, I/We undertake that I/We will not make available to
any persons or firms in Pakistan any foreign currency which may be at my/our
disposal, against reimbursement in rupees, without first having obtained the
permission of the State Bank of Pakistan (through an Authorised Dealer) by
completing Form A-7 in respect of the rupee payment to my/our account.
I/We further agree to complete Form A-7 in respect of any payments into the
account which may not be directly connected with my/our trading activities in
Pakistan, or which represent remittances received from overseas.
Your faithfully,
(Signature of applicant)
Date.........................
Full Name of applicant......................................... .......
Nationality............................Passport No....................
dated................................issued by........................
Occupation........................................ ....................
Address........................................... .................... Date of
arrival in
We certify that to the best of our knowledge and belief the information given
above is correct.
Stamp and Signature of Authorised Dealer
Dated.....................
Note ::- This form should be completed in duplicate and submitted to the A.D.
with whom the account is desired to be opened.
FORM A-7
FOREIGN EXCHANGE REGULATION ACT, 1947
Application to Transfer Pakistan Rupees From/To a Private
Non-resident Account held in Pakistan
Note ::- (1) this form should
be used only when payment is made in Pakistan Rupees to or from an account in
the name of a person of firm other than a bank resident outside
(2) This form should be completed in duplicate when the transfer is from one
non-resident account to another.
I/We the undersigned apply for permission to transfer/pay
Rs............................say................. ...................
(in figures) (in words)
from/to the account of................................................ (name
and address of transferor/transferee or full title of account debited/credited
stating the country of residence and name of bank with whom account is kept)
to/from.............................................. .................(name
and address of transferee/transferor or full title of account credited/debited
stating country of residence and name of bank with whom account is kept.) for
the purpose stated below :
I/We declare that the statements on this form are true, that the transfer is
solely for the purpose specified above and that this purpose is no way
contravenes the provisions of the Foreign Exchange Regulation Act, 1947.
Name of applicant.............................. .................... Stamp
& Signature(s)
of applicant
Address........................................
Date..............
We hereby certify that the statement overleaf are to the best of our knowledge
correct and that we have seen documentary evidence in support thereof and
allowed transfer in terms of para. 8 of Chapter VIII of the Exchange Control
Manual/apply for permission of the State Bank to effect the transfer.
Date........................ Stamp and Signature
of the Authorised Dealer
Space for use by the State Bank of Pakistan
State Bank of Pakistan,
Exchange Control Department,
Date........................ Deputy/Assistant Director
Note :- The approval of the State Bank of
FORM `M'
(Miscellaneous purposes)
FOREIGN EXCHANGE REGULATION ACT, 1947
Application for permission under Section 4 and 5 of the
Foreign Exchange Regulation Act to purchase foreign
exchange for the purpose specified below
If the applicant is income tax payer, Name and address of
Please indicate : Authorised Dealer.............
G.I.R. No......................... Identity Card No., dated and
and the
If the applicant/remitter is not an If the applicant/remitter is a
income tax payer, the word `Nil' corporate body, the word `Nil'
should be clearly stated. should be clearly stated.
I/We undersigned hereby apply to obtain the following foreign exchange to make
payment for the purpose as described below. I/We hereby declare that :
1. The above the payment is due to be made by me/us and I/We have not already
obtained exchange nor have I/We made any ther application for this purpose.
2. I/We assume full responsibility for complying with the provision of Foreign
Exchange Act, 1947 and rules, orders and directions issued thereunder.
3. During the current calendar year I have not remitted so far any sum in
excess of Rs...................including the amount now applied for on account
of :
*(i) Membership Fee of Institutions
*(ii) Examination Fee
*(iii) Membership Fee of Social Clubs
(*Delete where not applicable)
Amount Purpose Name and address of beneficiary
(sale currency)
Amount in words............................................. ......
Name (Block Letters).......................................... ........
Address........................................... ....................
Phone No..........................Nationality........... ..............
Signature of the applicant
(Valid for 30 days from the date of approval)
STATE BANK OF PAKISTAN CERTIFICATE OF APPROVAL
(if required)
Approved for............................................... .......
(State amount in figures and words)
Approval No................................................ .......
.............................
Date................ Signature and Seal of
State Bank of
(To be completed by an Authorised Dealer)
1. We hereby certify that the statements given above are to the best of our
knowledge and belief correct and that we have seen documentary evidence in
support hereof, viz. :
.................................................. ............
.................................................. ............
2. We have effected the remittance of (state foreign
currency)......................................... .......by TT/MT/Draft in
terms of F.E. Circular/Exchange Control Manual
Signature & Stamp of Authorised Dealer
CODING OF TRANSACTION BY AUTHORISED
DEALER/STATE BANK
Country receiving this payment........................................
Purpose for which exchange is required................................
Department........................................ ....................
Amount of Foreign
Exchange (in figures)
(In words)............................................ ......
..............................
Signature & Stamp of State Bank/
Authorised Dealer
FOREIGN EXCHANGE REGULATION ACT, 1947
Form of application for the transfer of funds by Pakistan
Nationals wishing to migrate permanently from Pakistan
To,
The State Bank of Pakistan,
Exchange Control Department,
............................
Through :................................................. .......
(Authorised Dealer in Foreign Exchange)
Dear Sirs,
I hereby apply for grant of passage and exchange facility for migration
to.............I am proceeding with the following dependents
(Name of country)
who are accompanying me with the intention to reside permanently in that
country :
Sl. No. Name Age Relationship with the applicant
I confirm that I am a citizen of Pakistan and that I hold passport
No............issued by the Government of Pakistan, dated............which is
submitted herewith alongwith form P/P2 and `M'/T-1.
I declare that authorities in the country to which I propose to migrate are
prepared to admit me and my dependents as immigrants. As a proof of the
correctness of this statement I submit herewith following evidence :
The names of my bankers in
The names of my bankers abroad (if any) are as follows :..............
I have completed the declaration on the reverse as required jointly with the
dependents accompanying me (other than minors).
Your faithfully,
Name of applicant..................................
Full residential address in
Occupation........................................ . ...............
applicant
Date...........
DECLARATION TO BE SIGNED BY THE APPLICANT AND
ACCOMPANYING DEPENDENTS (OTHER THAN MINORS)
(a) I/We declare that I/we intend to reside permanently in the country of
destination as stated on the reverse.
(b) The following is a true and complete statement of my/our assets (whether in
Rupees or in any other Foreign Currency) belonging to me/us, whether held
inside or outside
1. Bank balance(s) with ..............................
2. Pakistan Rupee shares and ..............................
securities including National ..............................
Savings Certificates, Defence ..............................
Savings Certificates, NIT ..............................
Units, etc. ..............................
3. Foreign securities. ..............................
4. Insurance policies of ..............................
annuities (State the ..............................
averages amount, name of the ..............................
company, the date when the ..............................
policy was taken out, and when ..............................
benefits are payable). ..............................
5. Other assets (e.g., real ..............................
estate, pension, provident ..............................
fund, etc.) ..............................
6. Value of household effects ..............................
to be taken. Rs............................
7. Value of person belongings ..............................
to be taken. Rs............................
..............................
..............................
..............................
..............................
Signatures of applicant and
of all dependents accompanying
him (other than minors).
Date..........................
List of documents to be submitted in support of the application
for transfer of capital assets/savings of Foreign Nationals
retiring permanently from
1. A certificate from the employer showing :
(i) Net salary and allowances for each year.
(ii) Provident Fund and leave salary paid on retirement.
(iii) Bonus and other gratuitous payments for each year.
(iv) Whether the cost of passage for self and family is being paid by the
employer.
In case where the period of stay exceeds 10 years, the employer's certificate
should cover the period of last 10 years. Similarly certificate for an earlier
period than 10 years may be called for by the State Bank in certain cases,
after scrutiny, if necessary. A certified true copy of the service contract
approved by the Investment Promotion Bureau/Government/Semi-Government
Department should be produced in support of the above.
When any of the above payments are not covered by the relative service
contract, a certified copy of the resolution of the Board of Directors of the
company/special sanction of the Government/Semi-Government Department concerned
should be submitted.
In case of persons employed in the private sector, certified true copies of the
relative permission letters for employment issued by the Investment Promotion
Bureau should be attached. Persons employed with the Government/Semi-Government
Departments, should produce from their Departments authorisation letter for
charging the amount of net remittable savings to their respective foreign
exchange allocation.
2. In the case of self-employed persons carrying on business/profession in
Pakistan, final income tax assessment order and form should be produced in lieu
of the above documents alongwith certified true copy of the permission letter
of the Investment Promotion Bureau.
3. Bank's encashment certificate evidencing receipt of funds if any from
abroad.
4. Statement of sale proceeds realised in respect of locally purchased articles
of the value of Rs. 500/- or more showing :
(a) Description. (b) Purchase price.
(c) Date of Purchase. (d) Date of sale.
(e)
Relative sale receipts of their certificate true copies should be produced.
5. A statement of sale proceeds realised in respect of articles
imported/brought from abroad of the value of Rs. 1,000/- or more showing :-
(a) Description. (b) Landed cost in
(c) Date of their import. (d) Date of their sale.
(e)
Relative import documents or Form `A' and relative sale receipts or their
certified true copies should be produced.
6. An authorised Dealer's certificate in regard to the applicant's investment
in N.I.T. and other Government Securities made for availing of income tax
relief showing also the amount realised from the sale proceeds and income
accrued on the investments.
7. Bank's certificate showing ::-
(a) Total amount of remittances made on account of family maintenance.
(b) Total amount of remittances made on account of leave salary.
In case where the period of stay exceeds 10 years, the bank's certificate
should cover the period of last 10 years. Where necessary the State Bank may
ask for a certificate to cover earlier period also.
8. A statement of Bank account for the last two years prior to the date of the
application with explanation of credit entries of Rs. 500/- or more excepting
those relating to payment of the monthly pay and allowances.
9. Application for transfer of actuarial reserve and relative insurance record
in respect of insurance policy, if any, is required to be submitted to the
State Bank through the insurance company concerned.
FORM “T”D
FOREIGN EXCHANGE REGULATION ACT, 1947
Application for SPECIAL
ALLOTMENT OF exchange for the purpose of travelling outside
1. In applying for the facilities set out in
(Full name of applicant)
this application relates is to be made solely for the purpose described in
para. 2 below and that the length of time I propose to remain abroad is the
minimum necessary for that purpose and I acknowledge that I have been notified
that the following conditions, will, pursuant to Section 4 (3) of the Foreign
Exchange Regulation Act, 1947, apply to the use of any foreign exchange for
which I now make application ::-
(i) That such foreign exchange shall not be expended for purposes other than
the cost of my own living expenses, entertainment for business purposes, and
normal transport in the countries to be visited.
(ii) That on my return to
(iii) That I further declare hereunder ::-
(a) I have not drawn any exchange through any other office of the State Bank
for this journey.
(b) I have not drawn any exchange in connection with the business of any other
sister concern which I am associated financially or otherwise in respect of
this journey.
(c) I and other representative of the firm have made the following business
visits abroad during the last one year.
Date Name of the Amount of Countries visited
representative exchange drawn
(d) The firm or the Company has its principal office at................and
corresponds with the State Bank of Pakistan Office at...................only
for the purpose of exchange control matters.
2. PURPOSE OF JOURNEY : (PLEASE READ CAREFULLY THE NOTE BELOW)
(a) Please give below a precise description of the purpose of the journey,
including full details of the business to be transacted indicating the centres
to be visited and the time to be spent at each centre. In addition should a
previous application have been approved in respect of the same journey, the
reasons for the prolongation of the journey should be stated and reference to
the previous application and sanction should be quoted.
(b) If the object of the journey is to arrange imports, the value thereof
should not in any case, be less than Rs. 0.5 million. In support of the request
either a valid import licence or orders for supply of capital goods placed by a
Government/Semi-Government Agency including Autonomous Corporation/Taken Over
Industry should be produced. Where import is being financed by a loan giving
agency in Pakistan or import is being made under PAYE Scheme, a letter from the
loan giving agency confirming sanction of the loan of IPB's approval letter, as
the case may be, should be attached.
(c) If the object of the journey is to establish contracts with foreign
exporters for obtaining agencies, a statement showing total commission earned
in foreign exchange during the preceding calendar year or the year immediately
preceding the month of application, duly certified by the applicant's bankers,
should be attached.
(d) If the object of the journey is to expand exports, a statement showing
total value of exports and value realised during the preceding calendar year,
duly certified by the bankers of the applicant, should be produced. In case
there are any over-dues against the exporter, value thereof and the reasons for
non-repatriation and the period which which it is expected to be realised
should be indicated therein.
(e) If the visit is connected with the setting up of a new industrial
understanding the permission of the same from the Federal/Provincial Government
may be submitted.
(f) In all cases names and addresses of parties in foreign countries whom the
applicant intends to contact should be stated. Correspondence with such parties
relevant to this application must be attached for examination.
(g) Confidential report of the bankers on the financial means and status of the
applicant should be enclosed.
3. PERIOD OF STAY (specify exactly) :
COUNTRY No. of days. Exchange required.
.................. ..................... ....................
.................. ..................... ....................
.................. ..................... ....................
.................. ..................... ....................
Name of Applicant......................................... ............
(In block letters)
Complete address........................................... ...........
Designation and Technical Qualifications..............................
Passport No. with date and place of issue.............................
Approximate date of departure.............and return..................
Date.................. ..................................
(Signature of applicant (Traveller)
4. Declaration to be signed on behalf of the firm or company whom the traveller
is representing by person/s authorised to sign on their banking account or by
persons specially authorised to sign these applications on their behalf.
We.............................hereby declare that the journey to
(Name of Firm and Company)
which this application relates is being undertaken on our behalf and the total
cost is being charged to us.
Date.............. ............................................
(Stamp and Signature(s) of the Firm/Company)
CERTIFIED OF THE AUTHORISED DEALER
5. To the best of our knowledge and belief the statements made on this
applicant regarding the purpose and the duration of the journey to be
undertaken and declaration of the firm or company sponsoring the journey are
true.
Date.................. ..............................
(Stamp and Signature of the
Authorised Dealer)
NO OBJECTION CERTIFICATE
STATE BANK OF
EXCHANGE CONTROL DEPARTMENT
Sl. No...........
Date................
The Office of the CCI & E,
Dear Sirs,
THROUGH.............................
(Name of the A.D.)
Issue of Replacement Licence A/C. M/S................
After having examined the necessary documents relating to goods lost or damaged
in transit, imported by M/s..........................against Import
Licence/Sub-Authorisation No..........dated...........we have no objection to
your issuing a Replacement Licence for Import of.................for
Rs..................(Rupees..............only).
(description of goods)
2. A copy of the Replacement Licence when issued may also please be forwarded
to us.
Yours faithfully,
Account/Deputy/Senior Deputy Director
NOTIFICATIONS
EXPORT OF CHEQUES, DRAFTS, FOREIGN EXCHANGE, ETC.
Noti. No. F.E. 17/48-SB, dated the 1st July, 1948 : In pursuance of sub-section
(2) of Section 8 of the Foreign Exchange Regulation Act, 1947 (VII of 1947),
the State Bank of Pakistan is pleased to permit :
(a) Authorised Dealers to send out of the Provinces of Pakistan, cheques,
drafts or bills of exchange which have been acquired in the normal course of
their business and within the terms of their authorisation.
(b) Any person to take or send out of the Provinces to States which have
acceded or accede to Pakistan Foreign Exchange without limit.
(c) Any person maintaining an account in accordance with the provisions of the
Notification of the State Bank of Pakistan No. F.E. 56/53-SB, dated the 7th
May, 1953 to take or send out of the Provinces and the Capital of the
Federation cheques or drafts drawn on such account.
EXPORT OF FOREIGN EXCHANGE
Noti. No. F.E. 38/50-SB, dated the 23rd October, 1950 : In pursuance of
sub-section (2) of Section 8 of the Foreign Exchange Regulation Act, 1947 (VII
of 1947), the State Bank of Pakistan is pleased to permit :
(i) any person to take out of the Provinces and the Capital of the Federation
with firm foreign exchange issued to him by an Authorised Dealer in Pakistan
and endorsed on his passport;
(ii) any person, other than a person to whom foreign exchange is issued for travelling
purposes only, to send out of the Provinces and the Capital of the Federation
foreign exchange issued to him by an Authorised Dealer for any purpose other
than travelling.
IMPORT OF CURRENCY NOTES
Noti. No. F.E. 1/78-SB, dated the 11th May, 1978 : In pursuance of the
Notification o the Central Government No. F. 1 (8)-EF/49, dated the 2nd May,
1949, and in supersession of the State Bank of Pakistan Notification No. F.E.
3/60-SB, dated the 27th August, 1960, the State Bank of Pakistan is pleased to
permit any person to bring into Pakistan from any place outside Pakistan
without limit any currency notes or bank notes other than :
(1) Unissued notes, and
(2) Notes legal tender in Pakistan :
Provided that he shall, if so required by the customs authorities at the time
of his arrival, make a declaration in the form prescribed by the State Bank of
Pakistan in this behalf of the total amount of notes brought in.
Noti. No. S.R.O. 1016(I)/79 dated the 17th October, 1979 : In exercise of the
powers conferred by Section 9 of the Foreign Exchange Regulation Act, 1947 (VII
of 1947), and in supresession of Ministry of Finance Notification No. 1 (8)
EF/58, dated the 20th August, 1958 the Federal Government is pleased to order
that every citizen of Pakistan in Pakistan and every other person residing
continuously for six months or more in Pakistan who owns or holds or who may
hereafter become the owner or holder of any foreign exchange whether held in
Pakistan or abroad expressed in the currency of any country or territory,
excepting the country of territory specified in the Schedule appended hereto,
shall before the expiration of three months from the date of this notification
or, in the case of a person hereafter becoming such owner or holder, within
three months of his so becoming offer such foreign exchange or cause it to be
offered for sale to an authorised dealer, being a person authorised by the
State
Bank of Pakistan for the purpose, against payment in Pakistan currency at the
rate for the time being authorised by the State Bank of Pakistan in pursuance
of sub-section (2) of Section 4 of the said Act for the conversion into
Pakistan currency of the foreign currency in which such foreign exchange is
expressed :
Provided that this order shall not apply to foreign exchange held by authorised
dealers within the scope of their authority or to any person authorised under
any permission, general or otherwise, granted by the State Bank of Pakistan to
hold the foreign exchange :
Provided further that a citizen of Pakistan not ordinarily resident in Pakistan
who comes to Pakistan from abroad may retain with him the foreign exchange
brought by him to Pakistan for a period of one year from the date of arrival.
2. The provisions of this notification shall not apply to the following cases,
namely ::-
(i) Foreign exchange held abroad by foreign diplomats and foreign nationals
employed in Embassies and Missions of foreign countries in
(ii) Foreign exchange held abroad by foreign nationals or foreign business houses,
except to the extent that it represents their earnings abroad in respect of
business conducted in
(iii) Foreign exchange held abroad in any country other than
Explanation : “Resident in
SCHEDULE 1 :
Notification No. 6461/EF/EXP/80, dated 22nd December, 1980 : In exercise of the
powers conferred by sub-section (2) of Section 9 of the Foreign Exchange
Regulation Act, 1947 (VII of 1947) and in continuation of this Ministry's
Notification No. 401/FE/EXP/80, dated 23rd February, 1980, the Federal
Government is pleased to direct that the power to make an order under the said
sub-section shall be exercised by the State Bank of Pakistan until the 31st day
of December, 1981.
EXPORT BY POST
Notification No. 1(7)-ECS/48, dated the 1st July, 1948 : In exercise of the
powers conferred by sub-section (1) of Section 12 of the Foreign Exchange
Regulation Act, 1947 (VII of 1947) the Central Government is pleased to
prohibit the export by post of any goods either directly or indirectly to any
place outside Pakistan other than any of the countries or territories in the
schedule appended hereto unless a declaration, in a form prescribed by the
State Bank of Pakistan, for the purpose, is furnished by the exporter to the
Postal Authorities at the time of despatch that an amount representing the full
export value of the goods has been will be disposed of in a manner and within a
period specified by the State Bank of Pakistan :
Provided that this prohibition shall not apply :
(1) Where the postal packet is covered by a certificate issued by the State
Bank of Pakistan or by an authorised dealer that the export of the parcel does
not involve any transaction in foreign exchange;
(2) Where the postal packet is accompanied by a declaration by the sender that
the contents of the parcel are less than Rs. 50 in value and that the despatch
of the parcel does not involve any transaction in foreign exchange; and
(3) Where the parcels are despatched either under the orders of the Central
Government or of the Military, Navel or Air Force authorities in Pakistan
accompanied by a certificate to the effect that parcel does not involve any
transaction in foreign exchange, signed by a Gazette Officer or by any person
entitled to use service postage stamps, which should be pasted on the outer
cover of the parcel.
(4) Where the postal packet or parcel consists of goods included in Open
General Licence No. 7, published with the late Ministry of Commerce and
Education (Commerce Division) Notification No. 335/460/42, dated 22nd October,
1952 as modified from time to time, or such other Export Open General Licence
as may be in force for the time being, and exporter to Iran by land; and
(5) Goods processed or manufactured or processed and manufactured in and
exported from Export Processing Zones established under the Export Processing
Zones Authority Ordinance, 1980 (IV of 1980).
SCHEDULE 1 :
Notification No. 1(6)-ECS/48, dated the 1st July, 1948 : In exercise of the
powers conferred by sub-section (1) of Section 12 of the Foreign Exchange
Regulation Act, 1947 (VII of 1947), the Central Government is pleased to
prohibit the export otherwise than by post of any goods either directly or
indirectly to any place outside Pakistan other than any of the countries or
territories in the Schedule appended hereto unless a declaration is furnished
by the exporter, in a manner prescribed in this behalf by the State Bank of
Pakistan, to the Collector of Customs or to such other person as the State bank
of Pakistan may specify, that an amount representing the full export value of
the goods has been or will be disposed of in a manner and within a period
specified by the State Bank of Pakistan :
Provided that this prohibition shall not apply to the export of :
(1) Bona fide trade samples :
(2) Personal effects, whether accompanied or unaccompanied, of travellers;
(3) Ships stores and transhipment cargo;
(4) Goods shipped under the order of the Federal Government or of such officers
as may be appointed by the Central Government in this behalf or of the
Military, Navel or Air Force authorities in Pakistan for the Military, Naval,
or Air Force requirements;
(5) Goods included in Open General Licence No. 7 published with the late
Ministry of Commerce and Education (Commerce Division) Notification No.
335/460/42, dated 22nd October, 1952, as modified from time to time, or such
other Export Open General Licence as may be in force for the time being and
exported to Iran by land;
(6) Gift packets where they are accompanied by a declaration by the sender that
the contents of the packet are less than Rs. 50 in value and that the despatch
of the packet does not involve any transaction in foreign exchange; and
(7) Goods processed or manufactured or processed and manufactured in the
exported from Export Processing Zones established under the Export Processing
Zones Authorities Ordinance, 1980 (IV of 1980).
SCHEDULE 1 :
Notification No. S.R.O. 390, dated the 4th May, 1981 : In exercise of the
powers conferred by sub-section (2) of Section 23 of the Foreign Exchange
Regulation Act, 1947 (VII of 1947), the Federal Government is pleased to
declare the period ending the 30th June, 1982, to be the period for which all
offences punishable under the said Section 23 shall be cognizable and
non-bailable.
Import of Gold and Silver:-Notification No. 1(2)-ECS/48, dated 1st July, 1948 :
In exercise of the powers conferred by sub-section (1) of Section 8 of the
Foreign Exchange Regulation Act, 1947 (VII of 1947) and in supersession of the
Notification of the Government of India in the Finance Department No.
12(II)-G1/47, dated the 25th March, 1947, the Federal Government is pleased to
direct that except with the general or special permission of the State Bank of
Pakistan, no person shall bring or send into the Provinces of Pakistan from any
place outside Pakistan :
(a) any gold coin, gold bullion, gold sheets or gold ingot whether refined or
not;
(b) any silver bullion, any silver sheets or plates which have undergone no
process of manufacture subsequent to rolling, or any uncurrent silver coin;
(c) any coin which is legal tender in India.
Issue of bearer security of coupon:-Notification No. F 1(1)-EF/49, dated 9th
April, 1949 : In exercise of the powers conferred by Section 15 of the Foreign
Exchange Regulation Act, 1927 (VII of 1947), the Federal Government is pleased
to order that, except with the general or special permission of the State Bank
of Pakistan, no person shall, in the Provinces of Pakistan, issue any bearer
security or coupon or so either any document that it becomes a bearer security
or coupon.
Import of Currency Note:-Notification No. 1 (8)-EF/49, dated 2nd May, 1949 : In
exercise of the powers conferred by sub-section (1) of Section 8 of the Foreign
Exchange Regulation Act, 1947 (VII of 1947), the Federal Government, in
supersession of this Ministry's Notification No. 1(3)-ECS/48, dated the 1st
July, 1948, is pleased to order that, except with the general or special
permission of the State Bank of Pakistan no person shall bring or send into the
Provinces of Pakistan from any place outside Pakistan and Currency Notes or
Bank Notes, whether un-issued or in circulation.
Declaration of Securities:-Notification No. 2(1)-1-EF/56, dated 1st August,
1956 : In exercise of the powers conferred by sub-section (1) of Section 19 of
the Foreign Exchange Regulation Act, 1947 (VII of 1947), and in supersession of
this Ministry's Notification No. 1 (5)-ECS/48, dated the 1st July, 1948, the
Federal Government is pleased to direct that all persons resident of Pakistan
who are or who may hereafter become the owners of any securities in respect of
which the principal interest or dividend is payable in the currency of any
foreign country or in respect of which the owner has the option to require the
payment of principal, interest of dividend in such currency shall by the 31st
December, 1956, or in the case of the date of his so becoming make a return to
the State Bank of Pakistan in the Form prescribed in this behalf by the State
Bank of Pakistan giving the following particulars with respect of such
securities, namely :
(a) the full name and address of the owner by whom or on whose behalf the
return is made;
(b) a description of the security in full, including particulars as to whether
it is a bearer bond, registered or inscribed stock, etc;
(c) nominal amount of the security;
(d) whether the security is free or encumbered; and if the latter, full details
of the nature of the encumbrance including the amount of loans or advances, if
any, which have been taken against the security and the currency in which the
name and addresses of the persons from whom they have been taken;
(e) the place in which and the name of the person with whom the security is
deposited;
(f) the full name and address of the person for whose account the security is
held (in case a person other than the owner is making the return).
Provided that this order shall not apply to persons not being citizens of
Repatriation of Foreign Exchange holdings by residents:-Notification No.
1(8)-FE/58, dated 20th August, 1958 : In exercise of the powers conferred by
Section 9 of the Foreign Exchange Regulation Act, 1947 (VII of 1947), and in
supersession of this Ministry's Notification No. 3(2)-4/EF-52, dated the 14th
June, 1952, the Federal Government is pleased to order that every citizen of
Pakistan in Pakistan and every other person residing continuously for six
months or more in Pakistan who owns or who may hereafter become the owner of
any foreign exchange whether held in Pakistan or abroad expressed in the
currency of any country or territory, excepting the country or territory
specified in the Schedule appended hereto, shall before the expiration of one
month from the date of this Notification or in the case of a person hereafter
becoming such owner, within one month of his so becoming, offer such foreign
exchange or cause it to be offered for sale to an authorised dealer, being a
person authorised by the
State Bank of Pakistan for the purpose, against payment in Pakistan currency at
the rate for the time being authorised by the State Bank of Pakistan in
pursuance of sub-section (2) of Section 4 of the said Act for the conversion
into Pakistan currency of the foreign currency in which such foreign exchange
is expressed :
Provided that this order shall not apply to foreign exchange held by authorised
dealers within the scope of their authority or to any person authorised under
any permission, general or otherwise, granted by the State Bank of Pakistan to
hold the foreign exchange.
2. The provisions of this Notification shall not apply to the following cases,
namely :
(i) Foreign exchange held abroad by foreign diplomats and foreign nationals
employed in Embassies and Missions of foreign countries in Pakistan;
(ii) Foreign Exchange held abroad by foreign nationals or foreign business
houses, except to the extent it represents their earnings abroad in respect of
business conducted in Pakistan or services rendered while in Pakistan;
(iii) Foreign exchange held in U.K. by residents in Pakistan provided the
amount does not exceed 100 in all, or in U.S.A. provided the amount does not
exceed $280 in all, U.S.A. does not exceed the equivalent of 100.
Explanation :
“Residents in
Schedule : 1.
Notification No. S.R.O. 72(1)-75, dated 30th December, 1974 : In exercise of
the powers conferred by sub-section (2) of Section 19 of the Foreign Exchange
Regulation Act, 1947 (VII of 1947) and in continuation of this Ministry's
Notification No. F-1 (17)-EF(EXP)/68/4351, dated the 30th November, 1973, the
Federal Government is pleased to direct that the power to make order under the
said sub-section shall be exercised by the State Bank of Pakistan until the
31st December, 1975.
Notification No. 14(1)-EF(G)/73, dated 8th March, 1975 : In exercise of the
powers conferred by sub-section (2) of Section 23 of the Foreign Exchange
Regulation Act, 1947 (VII of 1947), the Federal Government is pleased to
declare the period ending the 28th February, 1976, to be the period for which
all offences punishable under the said Section 23 shall be cognizable and
non-bailable.
Export of cheques, drafts, foreign exchange, etc., Notification No. F.E.
17/48-SB, dated 1st July, 1948 : In pursuance of sub-section (2) of Section 8
of the Foreign Exchange Regulation Act, 1947 (VII of 1947), the State Bank of
Pakistan is pleased to permit :
(a) Authorised Dealers to send out of the Provinces of Pakistan, cheques,
drafts or bills of exchange which have been acquired in the normal course of
their business and within the terms of their authorisation;
(b) any person to take or send out of the Provinces to States which have
acceded or accede to Pakistan foreign exchange without limit;
(c) any person maintaining an account in accordance with the provisions of the
Notification of the State Bank of Pakistan No. F.E. 56/53-SB, dated the 7th
May, 1953, to take or send out of the Provinces and the Capital of the
Federation cheques or drafts drawn on such account.
Export of jewellery to acceding States:-Notification No. F.E. 21/48-SB, dated
1st July, 1948 : In pursuance of sub-section (2) of Section 8 of the Foreign
Exchange Regulation Act, 1947 (VII of 1947), the State Bank of Pakistan is
pleased to permit any person to take or send out of the Provinces of Pakistan
without limit.
Import of gold and silver in transit:-Notification No. F.E. 28/49-SB, dated
14th May, 1949 : In pursuance of the Notification of the Government of Pakistan
in the Ministry of Finance No. 1 (2)-LCS-48, dated the 1st July, 1948
(restricting the bringing or sending into the Provinces of Pakistan of gold and
silver), and in supersession of the Notification of the State Bank of Pakistan
No. F.E. 10/48-SB, dated the 1st July, 1948, the State Bank of Pakistan is
hereby pleased to give general permission to the bringing or sending of any
such gold or silver as is specified in the Government notification referred to,
by sea or air into any port in the Provinces of Pakistan, provided the gold or
silver is on through transit to a place outside Pakistan and is not removed
from the carrying ship or aircraft except for the purpose of transhipment.
Import of Indian coins:-Notification No. F.E. 30/49-SB, dated 5th November,
1949 : In pursuance of the Notification of the Government of Pakistan No. 1
(2)-ECS/48, dated the 1st July, 1984, as amended by the Notification of the
Government of Pakistan No. 1(14) EF/49, dated the 5th November, 1949, the State
Bank of Pakistan is pleased to permit any person to bring into the Provinces or
the Capital of the Federation from any place outside Pakistan any coin which is
legal tender in India not exceeding in all rupees five in value at any one
time.
Export of Foreign Exchange:-Notification No. F.E. 38/50-SB, dated 23rd October,
1950 : In pursuance of sub-section (2) of Section 8 of the Foreign Exchange
Regulation Act, 1947 (VII of 1947), the State Bank of Pakistan is pleased to
permit :
(i) any person to take out of the Provinces and the Capital of the Federation
with him foreign exchange issued to him by an Authorised Dealer in Pakistan and
endorsed on his Passport;
(ii) any person, other than a person to whom foreign exchange is issued for
travelling purposes only, to send out of the Provinces and the Capital of the
Federation foreign exchange issued to him by an Authorised Dealer for any
purpose other than travelling.
Payment to the non-residents:-Notification No. F.E. 57/53-SB, dated 7th May,
1953 : In pursuance of sub-section (1) of Section 5 of the Foreign Exchange
Regulation Act, 1947 (VII of 1947), and in supersession of the State Bank of
Pakistan Notification No. F.E. 16/48-SB, dated the 1st July, 1948, the State
Bank of Pakistan is pleased to direct that the prohibition imposed by Clause
(a) of that sub-section shall not apply to the making of a payment to or for
the credit of a person resident outside Pakistan out of funds held in an
account maintained in accordance with the provisions of the Notification of the
State Bank of Pakistan No. F.E. 56/53-SB, dated the 7th May, 1953.
Notification No. F.E. 71/58-SB, dated 22nd May, 1958 : In exercise of the
powers conferred upon it by the Foreign Exchange Regulation Act, 1949, and all
other powers in this behalf, the State Bank of Pakistan is pleased to order
that the following notifications of the Reserve Bank of India that is to say
Notifications :
No. FER/A/22/47-RB, dated the 8th July, 1947;
No. FER/A/23/47-RB, dated the 8th July, 1947;
No. FER/A/24/47-RB, dated the 8th July, 1947; and
No. FER/A/36/47-RB, dated the 8th July, 1947,
shall hereby be cancelled and be deemed to have been cancelled with effect from
the 1st July, 1948.
Export of Jewellery:-Notification No. F.E. 72/52-SB, dated 21st January, 1959 :
In exercise of the powers conferred by sub-section (2) of Section 8 of the
Foreign Exchange Regulation Act, 1947 (VII of 1947), and in supersession of its
Notification No. FE/20/48-SB, dated the 1st July, 1948, the State Bank of
Pakistan is pleased to permit any person to export out of Pakistan precious
stones or jewellery other than article made wholly or mainly of gold, to any
country without limit provided in the manner prescribed in the Government of
Pakistan, Ministry of the Finance Notification No. 1 (6)-ECS/48, dated the 1st
July, 1948, and No. 1(7)ECS/48, dated the 1st July, 1948.
Notification No. F.E. 73/59-SB, dated 25th February, 1959 : In pursuance of the
Federal Government Notification No. 1(8) EF/58, dated the 20th August, 1958 and
in supersession of the State Bank of Pakistan Notification No. F.E. 52/52-SB,
dated the 18th September, 1952, the State Bank of Pakistan is pleased to
authorise all dealers for the time being authorised by the State Bank of
Pakistan to undertake foreign exchange business to purchase foreign exchange
for the purpose of the said Notification.
Notification No. E.F. 74/59-SB, dated 25th February, 1959 : In pursuance of
sub-section (1) of Section 4 of the Foreign Exchange Regulation Act, 1947 (VII
of 1947), and in supersession of the State Bank of Pakistan Notification No.
EF-56/53-SB, dated the 7th May, 1953, the State Bank of
Import of Currency Notes:-Notification No. E.F. 3/60-SB, dated 27the August,
1960 : In pursuance of the Notification of the Federal Government No. F.
1(8)-EF/49, dated the 2nd May, 1949, and in supersession of the State Bank of
Pakistan Notification No. FE/25/49-SB, dated the 2nd May, 1949, the State Bank
of Pakistan is pleased to permit any person to bring into Pakistan from any
place outside Pakistan without limit any currency notes or bank notes other
than :
(1) Un-issued notes, and
(2) Notes legal tender in Pakistan,
provided that he makes a declaration to the Customs authorities at the time of
arrival in the Form prescribed by the State Bank of Pakistan in this behalf, or
the total amount of the notes brought in.
Export of Currency Notes:-Notification No. FE/278-SB, dated 16-1-1979 : In
pursuance of sub-section (2) of Section 8 of the Foreign Exchange Regulation
Act, 1947 (VIII of 1947), and in supersession of State Bank of Pakistan
Notification No. FE. 1/61-SB, dated the 3rd January, 1961, as amended upto the
27th May, 1967, the State Bank of Pakistan is pleased to permit as follows :
(1) Any person may take out from Pakistan to any place outside Pakistan
currency notes of the Government of Pakistan and State Bank of Pakistan notes
not exceeding in all Rs. 100 (Rupees one hundred only) in value at any one
time.
(2) Any person may take out from
(3) Currency which has been brought into Pakistan in the safes of vessels or
aircrafts or which has been taken on board a vessel or aircraft with the
permission of the State Bank of Pakistan maybe taken out of Pakistan.
(4) Any person not ordinarily resident in Pakistan may take out of Pakistan
subject to compliance of such conditions as may be laid down by the State Bank
of Pakistan in the form of administrative instructions from time to time any
foreign currency brought by him into Pakistan.
Notification No. F.E. 1/63-SB, dated 14th October, 1963 : In pursuance of
Clause (a) of sub-section (1) of Section 20 of the Foreign Exchange Regulation
Act, 1947 (VII of 1947), and in partial modification of the State Bank of
Pakistan Notification No. F.E. 13/48-SB, dated the 1st July, 1948, the State
Bank of Pakistan in pleased to direct that a person other than a person holding
any office in the service of Pakistan and residing outside Pakistan for the
time being either on duty or on leave, being domiciled in, or a national of
Pakistan who is for the time being resident outside Pakistan, shall unless
otherwise authorised or exempted under the said Act, be treated for purposes of
Section 5 of the said Act, as a person resident outside Pakistan for so long as
he is so resident.
Export of precious stones and Jewellery:-Notification No. F.E. 2/64, dated 2nd
May, 1964 : In pursuance of sub-section (2) of Section 8 of the Foreign
Exchange Regulation Act, 1947 (VII of 1947), and in supersession of the
Notification of the State Bank of Pakistan No. F.E. 1/64-SB, dated the 19th
February, 1964, the State Bank of Pakistan is pleased to permit with effect on
and from the second day of May, 1964, any person to take at any one time out of
the Provinces of Pakistan precious stones to countries or territories specified
in the first column of the Schedule appended hereto to the extent indicated in
the corresponding entries in the second column thereof :
Provided that any person other than a person domiciled in Pakistan or India who
is returning to his own country may take with him any precious stones or
jewellery other than articles made wholly or mainly of gold purchased in
Pakistan upto a further Rs. 10,000 in value.
SCHEDULE
(i) (ii)
(a)
(b)
Ports
(c) Any other country or place not
mentioned in (a) & (b) above Upto Rs. 1000 in value.
or in the Notification No. F.E.
21/48-SB, dated the 1st July, 1948.
Import of
Provided that he shall, if so required by the Customs Authorities at the time
of his arrival, make a declaration in the Form prescribed by the State Bank of
Pakistan in this behalf of the total amount of notes brought in.
Notification No. F.E. 4/71-SB, dated 9th December, 1971 : In pursuance of the
powers provided in sub-section (2) of Section 8 of the Foreign Exchange
Regulation Act, 1947 (VII of 1947), and in supersession of State Bank of
Pakistan Notification No. F.E. 2/71-SB, dated 16th August, 1971, the State Bank
of Pakistan in pleased to notify that persons taking or sending out of Pakistan
currency notes, bank notes, coins, foreign exchange or jewellery and precious
stones either under general permission given vide Notification No. F.E.
1/61-SB, dated the 3rd January, 1961, and read with Notification No. F.E.
1/62-SB, dated the 3rd January, 1961, and Notification No. F.E. 2/64-SB, dated
2nd May, 1964, or under specified permission given by the State Bank of
FORM `CD'
CURRENCY DECLARATION FORM TO BE COMPLETED BY PERSONS LEAVING
“Prescribed under Section 8 (2) of the Foreign Exchange
Regulation Act, 1947, vide Notification No. F.E. 2/71-SB, dated 16th August,
1971, as amended vide Notification No. F.E. 4/71-SB, dated 9th December, 1971”.
I..............................hereby declare that at the time of
(Name in Block Letters)
leaving Pakistan, I am in possession of the following Pakistan currency notes,
Bank notes, coins, foreign exchange and precious stones and jewellery :
A. DESCRIPTION OF THE CURRENCY :
(Please indicate whether Notes, Travellers Cheques, etc.)
Amount
1...................... .......................
2...................... .......................
3...................... .......................
4...................... .......................
5...................... .......................
B. JEWELLERY AND PRECIOUS STONES :
DESCRIPTION :
Approximate Value
1...................... .......................
2...................... .......................
3...................... .......................
4...................... .......................
Passport No. and date and .......................
place of issue. .......................
Nationality. .......................
Address in
I declare that the information furnished by me above is correct; and in the
event of its being not correct, I hold myself liable for such action as may be
deemed fit under the Foreign Exchange Regulation Act, 1947.
For official use :
Checked
Customs Officer
Dated.................... Signature
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