Circulars/Notifications - Banking Policy Department  
 BPD Circular No.7
March 12, 2003  

The President,
All Banks / Approved DFIs

Dear Sirs,

SCHEME FOR FINANCING LOCALLY
 MANUFACTURED MACHINERY – (LOCAL SALES)

 

Please refer to BPD Circular No. 25 dated the 18th September, 2002 on the captioned subject.  

2.         It has been decided that with effect from 15th  March,  2003 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 7% p.a. However, where banks would avail refinance from the State Bank against valid Finance Limit, the refinance so obtained shall be remunerated at 5% p.a. 

3.         Other instructions on the subject shall remain unchanged. 

            Please acknowledge receipt.



Yours faithfully,
(Muhammad Kamran Shehzad)
Director

BPD Circulars/ Circular Letters issued in 2002
       
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