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KARACHI, Jan 18: The State Bank of Pakistan has reminded the banks of its earlier instructions to ensure retirement of loans granted by them for procurement of wheat during 2007, latest by Jan 31.
The central bank directed that banks shall also ensure that private sector borrowers, including flour mills, are not accommodated to provide financing facilities for retirement of the loans availed by them from other banks for wheat procurement to avoid hoarding of wheat.
It said any violation of SBP instructions would attract penal provisions under BCO, 1962.
— APP
