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In respect of shipment on F.O.B. or C & F basis insurance will be arranged by the overseas buyers. Exporters can take out policies only from companies operating in Pakistan, which can be expressed in Rupees or in foreign currency. The maturity proceeds or surrender value of Rupee policies will be paid in Rupees only.

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As regards Pakistan nationals holding foreign currency policies, premia can be collected in foreign exchange only as laid down in paragraph 4 ibid. Policies on the lives of foreign nationals resident in Pakistan may be issued in Rupees. Similar facility is also available to diplomats accredited to Pakistan and expatriate employees of international organizations provided premia in Rupees is paid by them out of their convertible Rupee accounts. Foreign insurance companies are required to settle claims in respect of marine policies covering exports through their head offices on the basis of all the above claim documents.

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This has reduced the registration processing time from at least 7-days to 2-days. Now citizen can register their businesses by sitting at their homes using this portal. Currently, the portal is also integrated with NADRA, SECP and in future surface Hà Nội it will also be integrated with FBR system for further facilitation. With the use of this portal, any new business can easily be registered online, saving the need of visits to different departments for paper based documentation.

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The portal also provides tracking of applications and timely issuance of online registration certificates. A helpline has been established to handle public queries regarding registration processes and facility is also made available at Facilitation Centres (e-Khidmat Markaz). The Government also aims to enable online payments for registration with aforementioned departments, which may encourage more Thomo67.tv entrepreneurs and investors to start a business. Retention of foreign currency received by Pakistani insurance companies is not permissible except with the special permission of the State Bank. Premia collected by them in foreign currency must, therefore, be sold to an Authorised Dealer. There is, however, no objection to the settlement of reinsurance accounts through the non-resident reinsurers.

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