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In exercise of the powers vested in the State Bank of Pakistan
under the Banking Companies ordinance 1962 all scheduled banks
are directed to maintain with the State Bank Special Deposit
equivalent to 2% of their total time and demand liabilities
as of 9-12-2000. The requirement has to be met latest by 16th
December, 2000. In order to remunerate these Special Deposits,
scheduled banks have the option to purchase market Treasury
Bills from SBP on one month Repo basis at the rate of 10.00
per cent annum. The market Treasury Bills so purchased will
not count towards Statutory Liquidity Requirement (SLR) of concerned
banks.
Interested banks may contact Director, Exchange
& Debt management Department for further details during
16th December, 2000 to 18th December,2000
Please acknowledge receipt.
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