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021221
STATE BANK OF PAKISTAN
F.E. Circular No. 21
December
21, 2002
All Head/Principal Offices of Authorized
Dealers
in Foreign Exchange.
Dear
Sirs,
PRE-PAYMENT OF FOREIGN PRIVATE LOANS
All the
Authorized Dealers are informed that it has been decided to allow
pre-payment of Foreign Private Loans (other than the Government guaranteed
loans), on a case-to-case basis.
The above facility can be
availed by borrowers who have the Rupee counterpart available with them or
they have the capacity to generate Rupee funds at their own and that the
loans are otherwise remittable i.e. the remittance formalities have been
completed.
All
applications in this regard should be forwarded to Joint Director
(Investment) Exchange Policy Department, State Bank of Pakistan, I.I.
Chundrigar Road, Karachi with full details for consideration and necessary
approval.
Please
bring the above to the notice of the concerned constituents.
Yours
faithfully,
(Zahid Rafique)
Joint Director
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