According to the SRO 655(I)/2017, the FBR has exempted profit on loans borrowed by the government of Pakistan under Facilities Agreement from M/s Credit Suisse AG in following loan agreement: $ 200 million on 3rd March, 2014; $ 250 million on 7th September, 2015; $ 325 million on 10th December, 2015; and $ 408 million on 29th March, 2016.
Under SRO 656(I)/2017, the FBR has exempted profit on loans borrowed by the government of Pakistan under Facilities Agreement $70 million on 24th October, 2015 from M/s Dubai Islamic Bank PJSC. As per SRO 657(I)/2017, the FBR has exempted profit on loans borrowed by the government of Pakistan under Facilities Agreement $ 100 million on 29th June, 2015 from M/s Standard Chartered (as Lead Manager) and M/s Noor Bank PJSC (as Investment Agent).
Under SRO 658(I)/2017, the FBR has exempted profit on loans borrowed by the government of Pakistan under Facilities Agreement $ 700 million on 20th September, 2016 from M/s China Development Bank Corporation. Through SRO 659(I)/2017, the FBR has exempted profit on loans borrowed by the government of Pakistan under Facilities Agreement from M/s Noor Bank PJSC in following loan agreement: $ 265 million on 30th September, 2015; $75 million on 31st December, 2015; and $200 million on 29th September, 2016.
Copyright Business Recorder, 2017