The Head/Principal Offices of

All Authorized Dealers

In Foreign Exchange

Dear Sirs/Madams,

Foreign Exchange Exposure Limit (FEEL)

Please refer to DMMD Circular No. 05 dated May 12, 2011 on the captioned subject..

It has been decided to increase the maximum cap on aggregate Foreign Exchange Exposure Limit (FEEL) of Authorized Dealers to PKR 3,500 million effective from April 15, 2013.

Based on the review of the annual audited accounts, the FEEL of each Authorized Dealer will be advised separately.

All other instructions on the subject, however, shall remain unchanged.