All Authorised Dealers
in Foreign Exchange,

Dear Sirs,

RECIPROCAL CREDIT OF US$ 50 MILLION
GRANTED TO EACH OTHER BY PAKISTAN & IRAN

Attention of the Authorised Dealers is invited to F.E. Circulars No. 50 and 51 both dated the 13th December, 1995 regarding the above arrangements.

      2.It is advised that the validity of the reciprocal credits of US$ 50 million granted to each other
         by the Pakistan and Iran has since been extended upto the 27th July, 2000.

      3.Authorised Dealers may please bring the above the notice of their constituents concerned.

Other terms and conditions laid down in the above Circulars remain unchanged.