The
Presidents/CEOs,
All Banks,
Dear
Sirs / Madam,
PROCUREMENT
OF WHEAT BY THE PRIVATE SECTOR-2007
Banks
are aware that instructions have already been issued to
ensure retirement of the loans granted by them for procurement
of wheat during 2007, latest by 31st January 2008 as contained
in SMED & MFD Circular No.01 dated 26-01-2007, read
with MFD Circular Letter No.06 dated 11-12-2007.
2.
Banks shall also ensure that private sector borrowers including
flour mills are not accommodated to provide financing facilities
for retirement of the loans availed by them from other banks
for wheat procurement to avoid hoarding of wheat.
3.
Any violation of SBP instructions would attract penal provisions
under BCO, 1962.
Please
acknowledge receipt.