All Head/Principal Offices of Authorized Dealers
in Foreign Exchange.

Dear Sirs,

PRE-PAYMENT OF FOREIGN PRIVATE LOANS

All the Authorized Dealers are informed that it has been decided to allow pre-payment of Foreign Private Loans (other than the Government guaranteed loans), on a case-to-case basis.

The above facility can be availed by borrowers who have the Rupee counterpart available with them or they have the capacity to generate Rupee funds at their own and that the loans are otherwise remittable i.e. the remittance formalities have been completed.

All applications in this regard should be forwarded to Joint Director (Investment) Exchange Policy Department, State Bank of Pakistan, I.I. Chundrigar Road, Karachi with full details for consideration and necessary approval.

Please bring the above to the notice of the concerned constituents.