KARACHI, June 4: The State Bank on Monday asked the authorised dealers to provide company-wise data regarding international transactions being made for balance of payments.

The authorised dealers are required to submit the data of foreign exchange transactions to the Statistics and Data Warehouse Department (formerly statistics department) on a revised format.

For various policy measures, the State Bank frequently requires company-wise information on different components of balance of payments (BOP) based on data mainly reported through international transactions reporting standard (ITRS) by the banks.

Presently company-wise data regarding foreign exchange transactions is not available with the statistics and data warehouse department.

“In order to utilise the reported data for policy formulation and financial planning, it has been decided that from July 1 foreign exchange transactions data for balance of payments will contain information about the entity/ company/ enterprise involved in the foreign exchange transaction in addition to other information as reported earlier,” said a circular issued by the SBP.

Authorised dealers were asked to record the National Tax Number of the entity/ company/ enterprise involved in the foreign exchange transaction in the specified column in the prescribed schedule/return.

The SBP will use NTN to identify the respective entity according to the information obtained from the CBR database.

The authorised dealers were advised to ensure strict compliance of the following during the course of foreign exchange transactions:

Record the NTN of each entity/enterprise on the basic documents at the time of recording foreign exchange transactions;

Report NTN for each transaction/entry on schedule for all transactions pertaining to business entities and take extra care in recording and reporting NTN failing which identification of entity cannot be made from the database.