KARACHI, April 25: The State Bank has invited applications from banks, DFIs, investment banks and listed brokerage houses for the appointment of primary dealers of government securities for the year 2006-07.

The SBP issued a circular on Monday carrying information about the fresh appointment of primary dealers. The State Bank appoints new primary dealers every year.

The SBP asked the applicants to furnish latest annual report, summary of monthly secondary market transactions in PIBs/FIBs and MTBs from January 1, 2005 to April 30, 2006.

The applicant has been asked to furnish a letter signed by the head of treasury explicitly mentioning that the applicant is in compliance with the rules governing primary dealers, says the circular. Applications must reach the SBP’s exchange and debt management department latest by May 15, it added.