All Authorized Dealers
In Foreign Exchange,

Dear Sirs,

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

Attention of Authorized Dealers is invited to F.E. Circular No.6 dated the 11^th January, 1994 on the subject noted above.

2. The rates of exchange risk coverage fee have since been revised. The revised rates are as under:-

3. The above rates will apply to the exchange risk coverage options received in the State Bank of Pakistan on or after the date of issue of this Circular.