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030317
STATE BANK OF PAKISTAN FOREIGN EXCHANGE DEPARTMENT KARACHI
F.E. Circular No. 5
March 17, 2003
Head Offices/Principal Offices of
all Authorised Dealers in Foreign Exchange/
Shipping Companies/Airlines in Pakistan
Dear Sirs,
Rupee Accounts of Shipping Companies/Airlines operating in Pakistan
Attention of the Authorised Dealers is invited to FE Circulars No. 12 & 14 of 1995 and
subsequent Circulars issued on the subject. It has now been decided that shipping companies/airlines having offices in Pakistan or operating their
ship/airlines in Pakistan can open and operate profit-bearing Pak rupee accounts in Pakistan with the condition that profit so earned would not be
remittable but can be used for meeting local expenses.
2. Please bring the above changes to the notice of your constituents.
Yours faithfully,
(M. R. MEHKARI)
Director
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