Circulars/Notifications - Banking Policy Department  
 BPD Circular No.4
February 15, 2003   

All Banks

Dear Sirs, 

RATE OF MARKUP FOR COMMODITY OPERATIONS OF
THE GOVERNMENT AND THEIR AGENCIES

Please refer to BPRD Circular No.8 dated the 26th April, 2000 through which the rate of markup for commodity operations financing of the Government was fixed at 12% per annum.

 It has been decided to reduce the said rate of markup from 12 % to 9.5 % per annum. The said markup rate will be applicable with effect from 1st February, 2003 for commodity operations financing of the Government and their agencies.

 As regards rate of markup on wheat procurement by the private sector, it is advised that banks may provide financing facility to the private sector on a market based rate of markup linked with T- bill rate.

 

Please acknowledge receipt.

Yours faithfully,
(Muhammad Kamran Shehzad)
Director

BPD Circulars/ Circular Letters issued in 2002
       
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