Circulars/Notifications - Banking Policy Department  
 BPD Circular No. 25
September 18, 2002  

The President,
All Banks / Approved DFIs,

Dear Sirs,

SCHEME FOR FINANCING LOCALLY MANUFACTURED  MACHINERY – (LOCAL SALES)

 

Please refer to BPD Circular No. 1 dated the 15th March, 2002 on the captioned subject.

 2.         It has been decided that with effect from 16th  September,  2002 the maximum profit to be earned by a financial institution on financial assistance to be extended under Part-A (Local Sales) of the Scheme for financing Locally Manufactured Machinery (LMM-Scheme) shall not exceed 10% p.a. However, where banks would avail refinance from the State Bank against valid Finance Limit, the refinance so obtained shall be remunerated at 8% p.a. 

 3.         Other instructions on the subject shall remain unchanged. 

             Please acknowledge receipt. 

Yours faithfully,
Sd/-
(Muhammad Kamran Shehzad)
Director

BPD Circulars/ Circular Letters issued in 2003
       
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