Currency notes sent by post to Pakistan liable to confiscation

Currency notes sent by post to Pakistan liable to confiscation

KARACHI: Sending currency notes and coins into Pakistan by post is illegal and liable to confiscation under updated Foreign Exchange Manual issued by State Bank of Pakistan (SBP).

The SBP said that laws in force are prohibiting the bringing or sending into Pakistan from any place outside Pakistan, of Pakistan and foreign currency notes or bank notes, un-issued or in circulation, or coin, except with the general or special permission of the State Bank.

Under Notification No.-1F.E.2/2017-SB dated the August 30, 2017, State Bank has granted general permission for bringing into Pakistan notes legal tender in Pakistan not exceeding Rs 3,000/- (Rupee Three Thousand Only) from India and Rs 10,000/- (Rupee Ten Thousand Only) from any country other than India, in value, in all per person at any one time.

The State Bank has also granted under Notification No.F.E.30/49-SB dated the November 5, 1949 and Notification No. F.E. 5/92-SB dated the 28th December, 1992 general permission to the travellers to Pakistan, to bring with them without limit foreign currency notes except un-issued notes and coin, except coin which is legal tender in India, which can be brought only up to Rs.5/- in value per person at any one time.

The SBP said that the permission contained above is valid only for bringing in of Pakistan or foreign currency notes or coin by travellers personally with them, but not for sending them into Pakistan by post or otherwise which is illegal.

Currency notes and coin sent by post to Pakistan are liable to be confiscated, which is besides the legal action that will be taken under the Act in such cases.

The SBP said that Pakistan currency notes up to Rs 3,000 and Rs 10,000, which the persons leaving Pakistan are permitted to take with them to India and to any country other than India respectively, are not intended for expenditure in foreign countries, but are meant for immediate expense on their return to Pakistan 3and/or for in-flight purchases on PIA’s international flights.

The central bank directed authorized dealers should bring this to the notice of travellers when issuing exchange to them for travel purposes.