Circulars/Notifications - Banking Policy Department  
 BPD Circular Letter No.11
April 1, 2003  

All Commercial Banks,

Dear Sirs,

Credit facilities for establishment of  new flour mills

 

Please refer to BPRD Circular Letter No.30 dated  the  8th  July,  1999 through which banks / NBFIs were directed not to provide loans for establishment of new flour mills. 

            The Economic Co-ordination Committee (ECC) of the Cabinet in its meeting held on  18th  March,  2003, interalia, decided that the commercial banks may allow loans for establishment of new flour mills on merit and after appropriate scrutiny.  As the banks are free to determine their own lending policies duly approved by their Board, the lending decision should be taken by the banks themselves on merit, after due scrutiny of each case and within the overall Prudential Regulations of State Bank of Pakistan. 

These instructions come into effect immediately. 

            Please acknowledge receipt.


Yours faithfully,
(Muhammad Kamran Shehzad)
Director

BPD Circulars/ Circular Letters issued in 2002
       
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