Circulars/Notifications - Banking Supervision Department  
 BPRD Circular No. 24
June 28, 1999 

All Banks

Dear Sirs,

Export Finance Scheme

 

Please refer to the captioned scheme, circulated vide BPRD Circular No 44 dated 17th December 1998 and amendments made therein from time to time.

2.   As you are aware that under the revised instructions, the Direct Exporters are required to make payments to their input suppliers viz., indirect Exporters through an inland Letter of Credit. Alternatively the Direct Exporters can also make payments to the indirect Exporters through Cheques drawn on the loan accounts.

3.        It has been decided that effective from 1st July, 1999 the Direct Exporters, who would make payment to their indirect Exporters (IDE) through cheques, shall issue a formal Standardized Purchase Order (SPO) to their IDEs. The SPO would enable the indirect enable the indirect Exporters to have access to the financing facilities from commercial banks under the captioned Scheme. Format of the Standardized Purchase Order is enclosed.

            Please acknowledge receipt.



Yours faithfully,
(Mansur-ur-Rehman Khan)
Director
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Export Finance Scheme

       
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