Please refer
to BPRD Circular No. 5 dated the 24th January,
1999 on the captioned subject.
In exercise of powers vested in the State Bank o f Pakistan
under Banking companies Ordinance, 1962 and in supersession
of all previous instructions on the subject, it has been decided
to withdraw the requirement of minimum cash margin on opening
of import letters of credit with effect from February 24,
1999.
Please
acknowledge receipt.
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