000705

F.E. Circular No.10
5th July, 2000

All Authorised Dealers in Foreign Exchange.

Dear Sir,

Attention of the Authorised Dealers is invited to Paragraph 39VI of Chapter XVII of FE Manual, 1992 (7th Edition) in terms of which they are authorised to remit living expenses on monthly basis and lapsed quota for 3 consecutive months cans also be remitted with the subsequent monthly remittance.

2. It has come to our notice that the restriction of monthly remittance of living expenses is causing difficulties to students studying abroad as well as their parents/financers. Taking into account the genuineness of difficulties experiences, it has been decided to relax the restriction of remittance of living expenses on monthly basis. Henceforth the living expenses can also be remitted for period of 3 to 4 months in advance at the option of parents/financers subject to the subject to the condition that remitter gives and undertaking that is case the studies are discontinued earlier, the excess remittance will be brought back to Pakistan by the remitter

3. Para 39VI of Chapter XVII of FE Manual, 1992 (7th Edition) adverted to in paragraph 1 above may please be amended accordingly.

Yours faithfully,

(M.R. MEHKARI)
DIRECTOR