Circular No. 01 of 2010
August 09, 2010
for Agricultural Purpose Rules, 1973
Revision in PIU Value of Land in the Passbook
refer to ACD Circulars No. 2/90 and 4/2007 dated 21st
January, 1990 and 25th September, 2007 on the subject.
In this regard, Finance Division (Internal Finance
Wing), Government of Pakistan vide Notification S.R.O
No. F. 12(1) IF-I/2009-879 dated 12th July, 2010 (Copy
enclosed) has enhanced the Produce Index Unit (PIU)
value from Rs 1200 to Rs 2000.
All banks are advised to carry out necessary amendment
in the Loans for Agricultural Purpose Rules, 1973
as indicated in the above said Notification and also
issue instruction to their branches for necessary
action in this regard. However, SBP instructions on
accepting agricultural land as security on the basis
of realizable/forced sale value in addition to PIU
or market value shall remain unchanged.
Please acknowledge receipt.
Encl: As above
Senior Joint Director