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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Subsequently minimum cash margin restrictions were withdrawn
on industrial Raw Material vide BPRD Circular No.37, dated
the 27th October, 1999, on Machinery of all kinds and their
spare parts vide BPRD Circular No. 38 dated 30th October,
1999 and on CKD Kits for tractors for assembly-cum-manufacture
purposes only vide BPRD Circular Letter No.07 dated the l0th
March, 2000. It has now been decided to withdraw
with immediate effect the minimum margin requirement on the
following items: -
1. Unserviceable vessels used by ship breaking
industry for scrapping.
2. Medical equipment, life saving devices and various consumables
used for patients.
3. Raw material used for Printing and Graphic Arts industry
for printing, publishing and packaging.
All other instructions on the subject shall,
however, remain unchanged.
Please acknowledge receipt.
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