Government of Pakistan
State of Bank Pakistan
June 7, 2004
BPD Circular Letter No.20 of 2004
All Banks / DFIs,
Dear Sirs,
PROCUREMENT OF WHEAT- MARGIN RESTRICTIONS THEREOF
Please find enclosed a copy of our Circular No. 12 dated May 10, 2004 in terms of which the banks have been advised:-
a) To impose a cash margin of 50% on fresh disbursements to be made by them to private sector for procurement of wheat with immediate effect, and
b) To ensure that the advances provided/to be provided by them for procurement of wheat by private sector are adjusted in full latest by 30th September 2004.
It is hereby clarified that the aforementioned instructions are also applicable to DFIs while providing finance to the private sector for procurement of wheat.
Please acknowledge receipt.
Encl. As above.
Yours faithfully
Sd/-
(Muhammad Kamran Shehzad)
Director
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