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STATE BANK OF PAKISTAN
EDMD
Circular No. 03
March
22, 2002
All
Scheduled Banks/NBFI’s
Dear
Sirs,
Amendment in Special US Dollar Bonds Rules 1998.
The Federal Government has notified the following amendments in the
Special US Dollar Bonds Rules 1998 with immediate effect vide its S.R.O. (I)/2002 dated 22nd March 2002:
i. Sub-rule (3) of rule 5 shall be omitted; and
ii. Sub-rule (2) of rule 10 shall be omitted.
The above amendments shall immediately stop the following:
i. Sale of Special US Dollar Bonds against payment of the value in US
Dollars.
ii. Payment of “Rupee Redemption Bonus of 5 %”, on maturity of
three years Special US Dollar Bonds, for encashment in Pak rupees.
Yours
faithfully
Sd/-
(MUHAMMAD
SHAKIR)
Director
GOVERNMENT OF PAKISTAN
Finance Division
Budget Wings
Debt Management Cell
Islamabad, 22 March, 2002
Notification
SRO (I)/2002. - In exercise of the
power conferred by clause (b) of sub-section (2) of section 3 of the Foreign
Exchange (Temporary Restrictions) Act. 1998 (IV of 1998) and section 28 of the
Public Debt Act, 1944 (XVIII of 1944), the Federal Government is pleased to
direct the following further amendments shall be made in special US Dollar Bonds
Rules, 1998 namely:-
In the aforesaid Rules,-
(i) sub-rule (3) of rule 5 shall be omitted; and
(ii) sub-rule (2) of rule 10 shall be omitted
[No.F.12(3)DM/2000]
(M. Qamar-uz-Zaman Farooqui)
Section Officer (DM)
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