Dear Sirs,

Redemption of Special US Dollar Bonds

In continuation to our EDMD Circular No. 4 dated 11-08-2001, it is advised that the Federal Government has decided to allow option of re-investment for another period of seven years in addition to three years to the holders of Special US Dollar Bonds of three years maturity. The notification dated 22-10-2001 issued by the Government states as under:

“Face value of bonds of three years’ maturity may be reinvested further for a period of three years or seven years commencing from the date of redemption at a profit of six months’ LIBOR on the day preceding the date of payment plus two per cent.”

Finance Division’s Notification dated 22nd October 2001 in this regard is enclosed.