Circulars/Notifications - Banking Supervision Department  
 BPRD Circular No. 10
March 8, 1999  

All Commercial Banks

Dear Sirs,

CREDIT DISCIPLINE-PUBLIC SECTOR ENTERPRISES

 

 

Please refer to BPRD Circular No. 20 dated the 21st September, 1995 read with BPRD Circular letter No. 35/127. Pub.95 dated the 19th November, 1995 in terms of which all commercial banks were advised that their aggregate credit to Public Sector Enterprises (PSEs) should not exceed the aggregate amount outstanding as on end May, 1995. It has been decided to withdraw the above restriction. Banks are, however, advised to ensure that requests from Public Sector Enterprises for credit lines are considered on merit and prudential requirements are strictly observed.

2. The above relaxation will not apply to WAPDA, KESC, PTCL, SNGPL, SSGC AND OGDC.

3. Instructions regarding reporting of aggregate credit outstanding against Public Sector Enterprises by way of a footnote to the weekly statement of position being submitted to us under Section 36(3) of the SBP Act, 1956 shall, however, continue to remain operative as hithertofore.

       Please acknowledge receipt.



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

       
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