In
excercise of powers vested in the State Bank of Pakistan under
the Banking Companies Ordinance, 1962, and in supersession
of all previous instructions on the subject, it has been decided
that, with immediate effect, all import letters of credit,
except for the items mentioned in the Annexure hereto, shall
be subject to the following minimum cash margin requirements:-
Industrial
Raw Material
10%
Machinery of all kinds and their spare parts 20%
All other goods
35%
Please
acknowledge receipt.
Encl:
One
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