Circulars/Notifications  

 BP & RD Circular No. 01 of 2008
January 31, 2008 

The Presidents/Chief Executives
All Banks

Dear Sirs / Madam,

FINANCING FACILITIES BY STATE BANK – ENHANCEMENT
IN REPO RATE FROM 10.0 % TO 10.5 %

Please refer to the BPRD Circular No. 11 dated July 31, 2007 through which the above rate has been fixed at 10.0% p.a.

2. It has been decided that with effect from 1st February, 2008 the minimum rate of return to be paid by recipients of financing facilities from State Bank for meeting temporary liquidity shortage and SBP 3-day Repo facility against Government of Pakistan Market Treasury Bills and Federal/Pakistan Investment Bonds, has been enhanced by 50 basis points i.e. from 10.0 % to 10.5 % p.a.

3. Other instructions on the subject shall, however, remain unchanged.

Please acknowledge receipt.

Yours sincerely,

Sd/-

(Muhammad Akhtar Javed)
Senior Joint Director
 

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