All Authorized Dealers
In Foreign Exchange,

Dear Sirs,

DIRECT BORROWINGS IN PRIVATE SECTOR INCLUSIVE OF SUPPLIERS CREDITS/
GUARANTEED LOANS/PAYE LOANS- ABSORPTION OF EXCHANGE BY THE
GOVERNMENT AGAINST PAYMENT OF FEE

Attention of Authorized Dealers is invited to F.E. Circular No.24 dated the 6th April, 1989 and F.E. Circular No.65 dated the 8th July, 1990 on the subject noted above.

2. We have to advise that the words "repayment installment" used in para 4 (iii) of F.E. Circular No.24 of 1989 and the word "installment" used in para 1 of F.E. Circular No.65 of 1989 refer to the installment of "interest" as well as to the installment of "principal and interest" both which may please be noted and brought to the notice of your constituents