KARACHI, June 12: The State Bank of Pakistan on Monday reduced the Credit Information Bureau (CIB) report charges in view of its enhanced scope, effective from July 1, 2006.The central bank in BSD circular letter maintained that it had already asked the financial institutions to report data to the CIB on the new system only.

The SBP had enhanced the scope of its CIB by eliminating the existing reporting limit of Rs500,000. Now the financial institutions would be charged Rs25 per report instead of Rs100 as per previous charges.

However, the per search charges would remain the same as Rs5 but it would charge Rs0.15 per minute and Re1 per minute login session for first 15 minutes and after 15 minutes respectively instead of Rs0.25/minute and Re1 per minute.

Hard copy report generated by SBP on the request of member financial institutions, when due to technical reasons they are unable to access the online facility, would be provided for Rs100 per report instead of Rs150.—APP