SBP amends export declaration format under PSW

KARACHI: The State Bank of Pakistan (SBP) has revised the export declaration format under the Pakistan Single Window (PSW) system, aimed at evolving business dynamics and system upgradations, its latest circular said.

According to the instructions of the Foreign Exchange Manual, exporters of goods are required to file an undertaking or declarations in the PSW system for receipt of payments through a bank (authorised dealer). “The undertaking/declaration for exports was earlier part of the Manual E-Form/Electronic Form-E (EFE). Considering the evolving business dynamics and system upgradations, it has been decided to amend the undertaking/declaration,” the SBP said.

“Henceforth, authorised dealers (ADs) are advised to obtain the revised declaration from the exporters through the PSW system at the time of initiating their respective export transactions.”