Please refer to BPRD Circular Letter No. 13 of 2020, whereby, various regulatory relief measures were announced to dampen the adverse effects of COVID-19.
2. It is clarified that the Banks/DFIs, by defining policy parameters to evaluate the merits of each case and recording reasons & justifications thereagainst, can process the request, for one time only, for rescheduling / restructuring [Para 2(v) of the aforesaid BPRD Circular Letter] received from such borrowers who have already availed the deferment of principal amount.
3. All other instructions on the subject shall, however, remain unchanged. The Banks/DFIs are advised to follow the revised instructions in letter and spirit. Any deviation or non-compliance of the same shall attract punitive action under the relevant provisions of the Banking Companies Ordinance, 1962.
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