ECO MULTILATERAL PAYMENTS ARRANGEMENT
of Authorised Dealers is invited to F.E. Circular No. 88
dated the,23rd May,1991 regarding claims under the letters
of credit opened uPto,31st October, 1990
under defunct ECO Multilateral payments arrangement by the
importers of Iran and, Pakistan.
2. It has now been decided with the concurrence of Iranian
side that the transactions against all those letters of
credit opened upto 31st October, 1990 in respect of which
Central Bank of Iran and the State Bank of Pakistan had
given Clearance for payment
through the ECO MPA account will, continue to be paid through
the special U.S. Dollar
account until the /or same have been utilized/ or expired
or cancelled. The dead line for
submission of Claims expired or Prescribed vide F.E. Circular
No. 88 dated the 23rd May,
1991, cancelled. therefore, stands withdrawn.
3. The above may be brought to the notice of your constituents
who may also be
impressed upon to complete the 6hipments as early as possible.