The Head/Principal Offices of
                        All Authorized Dealers
                        In Foreign Exchange
                    
                    
                    
                    Dear  Sirs / Madams,
                      RATE OF REMUNERATION ON SPECIAL CASH RESERVE ACCOUNT 
                      MAINTAINED WITH SBP UNDER FE-CIRCULAR 25 OF 1998. 
                    
                      Please refer to Para 03 of BSD Circular No. 18 dated March  31, 2001 on the captioned subject.
  It is notified that the rate of remuneration for the  month of July 2016 on Special Cash  Reserve Account (US$) maintained with the State Bank of Pakistan will be 0%.