The Head/ Principal Offices of all

Authorized Dealers in Foreign Exchange

Dear Sirs / Madam,

Payment against Import of POL Products

Attention of the Authorized Dealers is invited to FE Circular No. 03 dated July 15, 2009 in terms of which SBP instructed banks to make all purchases of foreign exchange from interbank market related to the import of POL products except that for Crude Oil.

It has now been decided that with effect from Monday, December 14th, 2009, all purchases of foreign exchange related to import of Crude Oil shall also be made by the banks (ADs) from the Interbank Market.

Authorized Dealers are advised to bring the above to the notice of their constituents.