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KARACHI, June 2: The State Bank of Pakistan (SBP) has withdrawn financing to wheat exports and asked commercial banks to refrain from financing wheat exports with immediate effect.
The central bank through its Circular Letter No 13/EPP 1 (51) Wheat-PER-2007 of June 2, 2007, has sought strict compliance from banks.
It may be noted that the Ministry of Commerce had earlier suspended wheat export from Pakistan till further orders vide an SRO of May 23, 2007 to stabilise its prices in the country.
—APP
