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Government Sets Cap on Foreign Currency allowed to be carried when traveling abroad

Real Estate News
11 Jul 2019
Government Sets Cap on Foreign Currency allowed to be carried when traveling abroad

Government Sets Cap on Foreign Currency allowed to be carried when traveling abroad

Islamabad: All the travelers who are leaving Pakistan to visit any foreign country are now allowed to carry a specific amount of foreign currency with them.

The amount has been capped as per the age of the traveler, traveling to the foreign country. The restricted foreign currency bracket has been issued by the FBR (Federal Board of Revenue).

As per the FBR advisory panel, travelers who are aged less than or equal to 5 years are allowed to carry USD 1,000 (or an equivalent amount of other foreign currency) with them on their single visit. If the traveler who is less than 5 years or equal to 5 years age traveling multiple times to a foreign country in a year, the maximum amount he or she can carry with them is USD 6,000 only in one year.

The travelers who are aged more than 5 years but less than or equal to 18 years are allowed to carry USD 5,000 (or an equivalent amount of other foreign currency) with them on their single visit only. But if a person aged more than 5 years and less or equal to 18 years is traveling to a foreign country multiple times in a year is allowed to carry not more than USD 30,000 only in one year.

In the same manner, the travelers who are aged more than 18 years are allowed to carry not more than USD 10,000 (or an equivalent amount of other foreign currency) with them on their single visit. If they are traveling to a foreign country numerous times in a year, they are allowed to carry only USD 60,000 for their multiple visits.

It is important to note that all the travelers who are leaving Pakistan are forbidden from carrying more than PKR 3,000 as per the new rules set by Federal Board of Revenue.

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