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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