Please refer to BSD Circular No. 10 dated May 22, 2008 and BSD Circular No. 04 dated May 22, 2004 on the captioned subject.

2. In terms of Govt. of Pakistan’s notifications dated May 13, 2008, Term Finance Certificates of Islamabad Electric Supply Company (IESCO), Faisalabad Electric Supply Company (FESCO) and Gujranwala Electric Power Company (GEPCO), have been notified as Approved Security for the purpose of Statutory Liquidity Requirement (SLR) under Section 29 of the Banking Companies Ordinance, 1962.

3. However, overall holding of these Term Finance Certificates and Pakistan Investment Bonds for SLR purposes shall not exceed 5% of the Time and Demand Liabilities.

4. All other instructions on the subject will remain the same.

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