September 27, 2022

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Pakistan Revenue

Tag: Foreign Exchange Manual

Rules amended on remittances on behalf of Hajj, Umrah organizers State Bank of Pakistan
Jan 27
Money & Banking, National, Top stories

Rules amended on remittances on behalf of Hajj, Umrah organizers

KARACHI: The State Bank of Pakistan (SBP) on Thursday amended instructions in Foreign Exchange Manual regarding remittances on behalf of Hajj group and Umrah organizers. The SBP invited attention of banks and exchange companies to Para 45A and 45B, Chapter 17 (Travel) of Foreign Exchange Manual in terms of which banks and exchange companies are […]

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SBP revises manual on remittances for petroleum sector State Bank of Pakistan
Dec 14
Energy, Money & Banking

SBP revises manual on remittances for petroleum sector

KARACHI: The State Bank of Pakistan (SBP) on Tuesday revised Foreign Exchange Manual related to remittances for petroleum sector operating under petroleum concession agreements. The central bank invited attention of Authorized Dealers is drawn towards Para 27 of Chapter 14 of Foreign Exchange Manual in terms of which SBP notified the process of remittance for […]

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SBP relaxes conditions for Afghan Transit Trade State Bank of Pakistan
Sep 20
Money & Banking

SBP relaxes conditions for Afghan Transit Trade

KARACHI: State Bank of Pakistan (SBP) on Monday relaxed conditions of the Foreign Exchange Manual to facilitate Afghan Transit Trade in the wake of prevailing conditions in the neighboring country. The central bank issued a circular to relax the conditions. The SBP through Foreign Exchange Circular No. 07 dated August 05, 2021 in terms of […]

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SBP revises manual for royalty, franchise, technical fee State Bank of Pakistan
Aug 8
Money & Banking

SBP revises manual for royalty, franchise, technical fee

State Bank of Pakistan (SBP) has revised foreign exchange manual related to Royalty, Franchise and Technical Fee (RFT) for ease of doing business. The central bank said that in order to implement the revised policy on RFT (Para 12, Chapter 14 of Foreign Exchange Manual), Authorized Dealers/banks shall set up a centralized unit to facilitate […]

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SBP revises manual to facilitate cross border payments State Bank of Pakistan
Aug 5
Money & Banking

SBP revises manual to facilitate cross border payments

KARACHI: The State Bank of Pakistan (SBP) on Thursday said that it has revised Foreign Exchange Manual to facilitate legitimate cross border payments. In a statement the central bank said that it had notified revision of foreign exchange instructions pertaining to commercial remittances with the objective of promoting ease of doing business and facilitating legitimate […]

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Procedure to make imports on open account State Bank of Pakistan
Jul 27
Money & Banking

Procedure to make imports on open account

KARACHI: The State Bank of Pakistan (SBP) has issued a procedure to make imports on an open account basis. The SBP updated 13th Chapter of Foreign Exchange Manual to incorporate major changes made to the manual. The central bank issued the procedure for imports without letter of credit/registration of the indent/proforma invoice/order (open account basis). (i) […]

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Advance import payment regulations amended State Bank of Pakistan
Jul 20
Money & Banking

Advance import payment regulations amended

KARACHI: The State Bank of Pakistan (SBP) has amended foreign exchange manual related to advance import payments. The central bank on July 19, 2021 issued revision in chapter 13 of foreign exchange manual. Following is the text of amendments made to Chapter 13: (i) Authorized Dealers (AD) / banks are allowed to effect import advance […]

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