Please refer to BPRD Circulars No. 24,34, 37 and 40 dated the 12^th July, 31^st August, 16^th October and 21^st November, 1998 respectively on the above subject.

2.          It has since been decided that with effect from January 11, 1999 letters of credit for import excluding import of wheat, PCL products, imports made by the Federal and Provincial Governments against cash allocation and imports under loans/credits/aid, whether in the public sector or private sector, shall be opened subject to a minimum cash margin of 20% instead of 30%.

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