Please refer to instructions
contained in BPRD Circular No.33 dated the 14th October, 1999
in terms of which minimum cash margin restriction was imposed
on all import letters of credit except items indicated in
the Annexure to the said circular. A 10% cash margin requirement
had been imposed on import letter of credit for import of
industrial raw materials and 20% on machinery of all kinds
and spare parts, whereas all other goods, except those indicated
in the Annexure were subject to a 35% cash margin requirement.
Subsequently the minimum cash margin restriction on Industrial
Raw Material and Machinery of all kinds and their spare parts
was withdrawn vide BPRD Circular No.37 and 38 dated the 27th
and 30th October, 1999 respectively.
It has
now been decided to withdraw with immediate effect the minimum
cash margin requirement on import letter of credit of CKD
Kits for tractors for assembly-cum-manufacture purposes only.
All other
instructions on the subject shall, however, remain unchanged.
Please
acknowledge receipt.
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