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040429
STATE BANK OF PAKISTAN - EXCHANGE POLICY DEPARTMENT
F.E. Circular Letter No. 03 of 2004
29th April, 2004
The Head/Principal Offices of all
Authorized Dealers in Foreign Exchange
Dear Sirs,
IMPORT LC –PORT OF DISCHARGE
Attention of Authorized Dealers is invited to Para 10,
Chapter XIII of the FEM, 8th Edition, 2002 which contains terms, on which Letter
of Credits may be opened.
2. It is advised that while opening import Letter of Credits, port of discharge
should be specified as either Keamari, Karachi or Port Qasim, Karachi under
importer’s specific instructions. The mention of “any port in Pakistan” or
“Karachi” as the port of discharge should be avoided unless specifically
required in the underlying contract giving option to the foreign exporter in
respect of the port of discharge.
3. Authorized Dealers are advised to bring the above to the notice of their
constituents.
Yours faithfully,
-sd-
(AZHAR KURESHI)
Director
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