The Presidents/Chief Executive Officers,

All Banks

Dear Sir(s)/Madam(s),

MARGIN RESTRICTION ON IMPORT OF ITEMS

In exercise of powers vested in the State Bank of Pakistan under the Foreign Exchange Regulations Act, 1947, State Bank of Pakistan Act, 1956 and other enabling laws, it has been decided that banks, with immediate effect, shall obtain 100 percent cash margin on the import of items as listed in the enclosed annexure-A.

All other instructions on the matter shall remain unchanged.

Please acknowledge receipt.