Circulars/Notifications - Banking Supervision Department  
 BPRD Circular No. 5
January 24, 1999  

All Banks

Dear Sirs,

MINIMUM MARGIN RESTRICTIONS ON IMPORT LETTERS OF CREDIT

 

Please refer to BPRD Circular No. 3 dated the 9th January, 1999 on the above subject.

2. It has since been decided that with effect from January 25, 1999 letters of credit for import (excluding import of wheat, POL products, imports made by the Federal and Provincial Governments against cash allocation, imports under loans/credits/aid, whether in the public sector or private sector and import of items against various scheme of temporary imports for exports e.g. NDND Scheme, manufacturers in Bonde Scheme etc.) shall be opened subject to a minimum cash margin of 10% instead of 20%.

Please acknowledge receipt.



Yours faithfully,
(Mansur-ur-Rehman Khan)
Director
       
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