| |
|
 |
| For business information, annual reports, laws, ordinances, regulations and articles. |
|
|
|
030616
STATE BANK OF PAKISTAN FOREIGN EXCHANGE DEPARTMENT KARACHI
F.E. Circular No. 12
June 16, 2003
The Head/Principal Offices of
All Authorized Dealers in Foreign Exchange.
Dear Sirs,
EXEMPTION FROM E FORM PROCEDURE FOR
EXPORT OF EDUCATIONAL BOOKS
With a view to further
liberalize the Foreign Exchange regime, it has now been decided that export of
educational course books for schools and colleges for Pakistani students and
other running under respective Embassies abroad are exempt from E Form
procedure.
2. In this connection, following paragraph may be added as new para in Chapter
XII, Foreign Exchange Manual (Eighth Edition, 2002): -
Para 15-A.
i) Export of educational course books for schools and colleges for Pakistani
students and other running under respective Embassies abroad are exempt from E
form procedure. While making such transactions, Exchange Policy Department, SBP
BSC (Bank) will issue a No Objection Certificate with the condition that
exporter will obtain an endorsement from the Customs Authorities on reverse of
the NOC about Name/Title, Number of books exported and their invoice value. The
date of export should also be mentioned specifically. The Exporters will submit
a statement on monthly basis to Exchange Policy Department, SBP BSC (Bank)
showing the amount due and receipts on account of foreign exchange arising
therefrom.
The NOC issued in view of above exemption would be initially valid for a period
of one year only which may be renewed subject to satisfactory performance.
However, if exporter fails to submit the required statement or keeps large
balances abroad, the facility should not be renewed and the case should be
submitted to Exchange Policy Department, SBP BSC (Bank), Enforcement Section for
necessary action at their end.
ii) While issuing NOC, Exchange Policy Department, SBP BSC (Bank) should advise
the Customs Authorities that the items are exempt from E form procedure.
iii) The export of above-mentioned items being exempt from E-form procedure will
be reported on schedule A-1/O-1 with authentication of exempted E-form.
The specified code for the same whichever is applicable, mentioned under the
Section X, Chapter 49 of HS Classification of coding system may be used.
3. Please bring the above to the notice of your constituents.
Yours faithfully,
(M. R. MEHKARI)
Director
|
|
|
|
|
|
| Home | About Us | Contact | Information Resources |