Circulars/Notifications - Exchange Policy Department  
 F.E. Circular No. 30
December 10, 1997 

All Authorised Dealers
in Foreign Exchange,

Dear Sirs,

FOREIGN CURRENCY LOANS AND CREDITS

Please refer to the instructions contained in paragraph 61 (ii), Chapter XIII of the Foreign Exchange Manual (paragraph 47(ii) in the reprint issued vide circular letter No.49/FEP-Reg(12)-97 dated the 18th November, 1997) on the captioned subject. In terms of the Government’s Investment Policy – 1997, long term loans can be arranged from a bank, financial institution, parent companies of multinationals or under suppliers credit. Authorized Dealers are, therefore, advised to replace the above sub-paragraph with following:

"As an exception to the above, private sector entrepreneurs may obtain foreign currency loans from banks, financial institutions, parent companies of the multinationals and as suppliers credit including credits under PAYE Scheme, not involving government guarantee, for financing foreign currency cost of the projects covered by the government’s Industrial/ Investment Policy and the instructions issued by SBP from time to time. The loans should be contracted on the best possible terms. The repayment period of such loans/credits, however, should not be less than five years."

 

View Update

 

       
Home
About SBP
Publications
Economic Data
Press Releases
Circulars/Notifications
Laws & Regulations
Monetary Policy
Help Desk
SBP Videos
Feedback
Contact us
What's New?
Speeches
Online Tenders
Web Links

Educational Resources
Regulatory Returns
Library
Rupey ko Pehchano
Events
Zahid Husain Memorial Lecture
Careers
Sitemap
 
Best view Screen Resolution : 1024 * 768
Copyright © 2016. All Rights Reserved.