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830302
STATE BANK OF PAKISTAN
EXCHANGE CONTROL DEPARTMENT, KARACHI
F.E. Circular No.25
2nd March, 1983
All Authorised Dealers in Foreign Exchange
Dear Sirs,
Authorised Dealers may please refer to F.E. Circular No. 18 dated
the 12th February, 1983.
2. It has now been decided that with immediate effect the Authorised Dealers should pay
interest on Foreign Currency Fixed/Term Deposits of 3 months, 6 months and 12 months at
the rate not exceeding the minimum domestic rates fixed by Banking Control Department vide
their Circular No. BCD-12 dated the 17th June, 1977.
3. It may please be noted that since interest in respect of all type of Foreign Currency
Term Deposits is now payable at the rates not exceeding the minimum domestic rates
prescribed vide B.C.D. Circular referred to above, the question of payment of subsidy on
account of differential in interest rates in respect of the above Term Deposits does not
arise.
Yours faithfully,
(A.H. HAKEEM)
Senior Deputy Director
