MM News

ISLAMABAD: The Federal Board of Revenue (FBR) has decided to fix a maximum limit of $5,000 (per visit) and $30,000 (annually) for outgoing international passengers (18 years and above) aboard.

The new annual maximum limit for travelers withdrawing foreign currency would be in effect starting in 2023.

Wednesday, the FBR issued SRO2043(I)/2022 here by way of proposed amendments to the 2006 Baggage Rules.

According to the updated luggage regulations, anyone travelling overseas (apart from Afghanistan) is permitted to bring out of Pakistan US dollars or the equivalent in other foreign currencies, subject to the restrictions listed in Table ‘A’ of the regulations.

The maximum allowance per person per visit is $5,000 USD (or equivalent in other foreign currencies) for passengers who are 18 years of age and older (adults). It has been suggested that the annual cap be set at US$30,000 (or the equivalent in other foreign currencies).

The passenger below 18 years of age (minor) would be entitled to take US$2,500 (or equivalent in other foreign currencies) under the maximum limit per person per visit. The annual limit per person in US$ (or equivalent in other foreign currencies) has been proposed to be fixed at US$15,000.

Moreover, the FBR has established foreign currency cash limits for travelers going to Afghanistan. The maximum per-visit amount has been set at US$1000 (or similar in other currencies). The annual cap has been set at US$6,000 per person (or its equivalent in other foreign currencies).

For a calendar year beginning in 2023, the yearly luggage limits for outbound passengers for the relevant countries will be as per Tables “A” and “B.” The current yearly restrictions in place before to the issuance of this notification shall, however, remain in effect for the calendar year 2022 until December 31, 2022.