All Authorized Dealers
In Foreign Exchange,

Dear Sirs,

DIRECT BORROWINGS IN PRIVATE SECTOR INCLUSIVE OF SUPPLIERS CREDITS/
GUARANTEED LOANS/PAYE LOANS- ABSORPTION OF EXCHANGE RISK BY THE
GOVERNMENT AGAINST PAYMENT OF FEE

Attention of Authorized Dealers is invited to F.E. Circular No.44 dated the 30the April, 1992 on the subject noted above.

2. The rates of exchange risk coverage fee have since been revised. The revised rates are as under:-

3. The above rates will apply to the exchange risk coverage options received in the State Bank of Pakistan on or after the date of issue of this Circular.