In order to facilitate the exporters, the terms and conditions for direct dispatch of shipping documents by the exporters to their buyers abrooad have been further relaxed According to the State Bank of Pakistan (SBP), instructions regarding making and dispatch of shipping documents by the exporters have been revised.
SBP circular said on Thursday that in order to further facilitate the exporters the terms and conditions for direct dispatch of shipping documents by the exporters to their buyers abroad have been further relaxed. Accordingly, clause (iii) and clause (iv) of Para 11A of the Foreign Exchange Manual-2017 are being revised and as per clause (iii), the total outstanding/unrealized exports allowed by the AD through this facility will not exceed 50 percent exports of the preceding year.
Under clause (iv), this facility will be extended only to those exporters who have minimum export realization of US$250,000 or equivalent during the last three years. To this end, the Authorized Dealer (AD) may accept certificates of other ADs showing export performance of the exporter through them. All other instructions on the subject shall remain unchanged. SBP has advised ADs to bring the above instructions to the notice of all their constituents.
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