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950717

STATE BANK OF PAKISTAN NBFIs REGULATIONS AND SUPERVISION DEPARTMENT CENTRAL DIRECTOTATE KARACHI

NBFIs Circular No. 7
17^th July, 1995

All NBFIs

Dear Sirs,

RULES OF BUSINESS FOR NBFIs – GRANT OF RELAXATION

Please refer to the instructions contained in Rule 7(2)(a) notified vide NBFIs Circular No. 9 dated 11^th November, 1992 in terms of which relaxation on observance of the prescribed ratio between a borrower’s equity and total borrowings from banks/financial institutions has been allowed upto 30^th June, 1996 for renewing existing facilities.

2. It has now been decided to extend the above period up to 30-6-1998. The borrower under this relaxation is required to inject additional equity during the year 11995-96, 96-97 and 97-98 of an amount equal to 1/3^rd of the difference between the equity prescribed by this regulation and the existing equity.

Please acknowledge receipt.

Yours faithfully,
(MANSUR-UR-REHMAN KHAN)
Director

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