Please refer to our letter No. BSD/RU-45/936(L)/X/2001-15638 to 15709 dated the 30^th October, 2001 on the captioned subject conveying sanction of individual limits to banks for the year 2001-2002.

       It has been represented to us by the banks as well as various exporters and their Associations  that the allocation of limit for utilization under Part-II is being  used  by their banks for curtailment of refinance facility required by them despite entitlement admissible to them. It has, therefore, been decided to do away with the requirement of sub-ceiling under Part-II prescribed in this behalf for the banks. The banks are now eligible to utilize the sanctioned limit under either part without restriction of any sub-ceiling at any office of SBP. The banks may now determine reallocations of their limit within their overall refinance limit sanctioned vide our letter referred to above afresh so that exporter’s requests for finance is not refused for want of sufficient limit under any part.

 Please acknowledge receipt.