All
Scheduled Banks/NBFI's
Dear
Sirs,
Amendment
in Special US Dollar Bonds Rules, 1998
Please refer to EDMD Circular
No. 04 dated 11th August 2001 enclosing therewith Government
Notification No. S.R.O. (I)/2001 dated 11th August 2001 in
terms of which following sub rule (3) to Rule 10 of Special
US Dollar Bonds Rules, 1998 was added:
“Rule 10(3) Face value of bonds
of three years’ maturity may be reinvested for further
a period of three years or seven years starting from the date
of redemption at a profit of six months’ LIBOR on the
day preceding the date of payment plus two percent.”
The Government of Pakistan vide their
notification No. S.R.O. (I)/2002 dated 16th September 2002
(photocopy enclosed) have omitted the above cited sub-rule
(3) of Rule 10.
Encl:(01)
|