KARACHI: The State Bank of Pakistan (SBP) Wednesday allowed the export of all foreign currency except US dollar from Pakistan to other countries.
The SBP disallowed to export UK Pound Sterling, Euro and UAE Dirhams through a circular on May 9, 2008. SBP said, “It has, now, been decided to withdraw the said instructions with immediate effect.”
“The Exchange Companies will, therefore, be allowed to export all types of FCYs other than US Dollars as per prescribed procedure and declaration at SBP-Customs Joint Booths located at Jinnah Int’l Airport, Karachi and Allama Iqbal Int’l Airport, Lahore,” the SBP said. The Exchange Companies shall, however, ensure to receive the equivalent US Dollars against exported currencies in their foreign currency accounts maintained with banks in Pakistan within 3 working days. An evidence to this effect should immediately be submitted to this department against each shipment.
