December 18, 2007	Tuesday	Zilhaj 7, 1428

KARACHI, Dec 17: The State Bank has further liberalised remittances rules for airlines and also lifted ban on airlines in Pakistan to issue tickets for Saudi Arabia during Hajj season.

The SBP issued a circular on Monday to facilitate foreign airlines in Pakistan through liberalisation of foreign exchange regime.

Under the existing regulations, airlines are required to submit applications, along with all relevant documents, including passage statement (V-37) to authorised dealers for effecting remittances of surplus passage and freight collection.

“Now, it has been decided that instead of V-37, foreign airlines will henceforth submit BSP sales statement which is being provided by the International Air Transport Association (IATA) to each airline in Pakistan,” said the SBP circular.

However, data contained in V-37 statement should readily be available with the concerned ticket issuing office, it added.

At present, airlines in Pakistan have been restricted from issuing tickets to Saudi Arabia or its adjoining countries during the Hajj Season i.e. from 10th of Shawwal to 10th of Zilhaj each.

“Now, it has been decided to waive this restriction,” said the State Bank.