Please refer to the BPD Circular No. 15 dated the 11th April, 2005 through which the above rate had been fixed at 9% p.a.

2. It has now been decided that with effect from 31st July, 2006 the minimum rate of return to be paid by recipients of financing facilities from State Bank for meeting temporary liquidity shortage and SBP 3-day Repo facility against Government of Pakistan Market Treasury Bills and Federal/Pakistan Investment bonds has been enhanced by 50 basis points i.e. from 9% to 9.5% p.a.

3. Other relevant instructions on the subject shall, however, remain unchanged.

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