Circulars/Notifications - Banking Policy Department  
 BPD Circular No. 31
September 20, 2003 


The President,

All Banks / Approved DFIs,

Dear Sirs/Madam,

 

SCHEME FOR FINANCING LOCALLY MANUFACTURED MACHINERY -(LOCAL SALES)

 

Please refer to BPD Circular No. 07 dated 12th March, 2003 in terms of which the rate of finance / refinance under Part-A Local Sales of LMM Scheme were announced.

2.       Banks are aware that the captioned Scheme has been in operations since 1972. Though Scheme has been revised time and again, however, it has been felt that the same in its present form may not bring the desired impetus for the industrial growth of the country. Accordingly, we have started the process of modifying the Scheme and expect to finalize it by end December 2003. Till then, the rates of finance / refinance announced vide BPD Circular No. 7 dated 12th March, 2003 shall remain effective till further instructions.

3.          Please acknowledge receipt. 

 

 

Yours faithfully,
Sd/-
( Qasim Nawaz )

Joint Director

BPD Circulars/ Circular Letters issued in 2002
       
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