Please refer to IH&SMEFD Circular No. 10 of 2013 dated November 18, 2013 and IH&SMEFD Circular Letters No. 08 and 09 of 2013 and IH&SMEFD Circular Letter No. 01 of 2014 respectively on the captioned subject.

In this regard, please find attached herewith the mechanism for payment of GOP service charges subsidy and 5% portfolio loss sharing with banks working as Executing Agencies for PMYBL Programme. Executing Agencies are advised to submit their claims to Development Finance Support Department, SBP BSC, Karachi as per instructions contained in the attached payment mechanism within 10 working days of the end of each Quarter. In this respect, EAs shall submit their first claim within 10 working days of end September 2014.

Other instructions on the subject shall remain unchanged. Please ensure meticulous compliance of the instructions.

Encl: 1. Payment Mechanism