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SD Circular No. 1
17th June, 1997

All Scheduled Banks,

All Chief Managers of State Bank of Pakistan.

Dear Sir,
STATE BANK OF PAKISTAN - 3-DAY REPO FACILITY

Kindly refer to SD Circular No. 02 dated 22nd October, 1996 on the captioned subject.

It has been decided to reduce the SBP 3-Day Repo Rate against Short-Term Federal Bonds and Federal Investment Bonds by 1.00 per cent to 19.00 per cent per annum with effect from 18th June, 1997.

Yours faithfully,

Sd/-
(Muhammad Ilyas)
Director
Ph: 2428943

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