The ‘A’ category exchange companies can provide bill collection facilities in their branches and can fix Automated Teller Machine throughout the country.
In this connection, the central bank has issued a circular allowing the exchange companies of ‘A’ Category to enter into agreement with utility companies like WAPDA, KE, PTCL, SSGC etc for collection of utility bills in local currency on their behalf.
A copy of the final agreement between a utility company and an exchange company shall be submitted by the exchange company to the director, exchange policy department, State Bank of Pakistan, Karachi for information.
Exchange companies are also allowed to install banks’ ATMs for PKR at their branches as per the terms and conditions agreed upon between the respective bank and the exchange company without getting prior approval of the State Bank of Pakistan.
