KARACHI: Incoming passengers as well as those travelling from Pakistan will have to declare the foreign currency in their possession as Islamabad moves to curb money-laundering to meet requirements of the Financial Action Task Force (FATF).
“There’s no limit to how much money a traveler can bring to Pakistan, but they have to declare it,” a Customs official told Business Recorder on Monday, days after it was reported that the Pakistan Civil Aviation Authority (PCAA) has started implementing FATF standards in accordance with the government’s directives for submission of customs’ declaration forms by all inbound and outbound passengers of international flights.
“Their declaration will whiten the asset they have brought into the country and there will be no deductions whatsoever.”
However, the official said the forms are yet to be distributed to airlines.
“But it will soon be applicable.”
The passengers are meant to give details of their currency, gold jewellery, precious stones and restricted goods such as narcotics, weapons, satellite phones, etc.
For outbound travelers, there’s a $10,000 limit applicable for each adult, $6,000 for a teenager between 12 and 18 and $3,000 each for a child under 12 years of age. Other currencies such as UAE dirham and Saudi riyal will be calculated in terms of their equivalence to the dollar-limit.
The Customs official said that once the mechanism is in place, the boarding pass will only be issued once the declaration is submitted.
Notification issued earlier
Earlier, the PCAA had issued directions to all airlines to collect currency declarations from passengers.
“For inbound flights, airlines are required to ensure in-flight announcement by the flight crew for every inbound flight for submission of subject declaration wherein the passengers will mention the currency under the regulatory requirements of FATF,” read the notification.
“The airline crew will distribute the declaration during the flight to all the passengers, irrespective of their nationality. The said declaration will be deposited at the customs counter before the immigration desks at International Arrival,” it added.
The letter further read that for outbound flights, airlines may also direct their staff and travel agents to ensure that they provide a copy of the declaration at the time of booking of ticket.
“At check-in counters airlines are directed to issue boarding passes only once the passengers have deposited the declaration with them,” it said.
“Pakistan Customs are required to deploy their staff along with airline staff to supervise and assist the passengers at the dedicated facilitation counter inside the check-in hall,” it added.
The airline staff will collect the declarations and hand over the same to the customs staff after the closure of the flight along with the passenger's details.
Prohibited items
Meanwhile, the Customs official told Business Recorder that gold will continue to be off-limits for passengers travelling out of Pakistan as well as those arriving in the country.
“Only jewellery in usage is allowed for a lady passenger.”
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