3) The mandate also ended payments via giro cheque (check) where beneficiaries received checks encashable
at the Post Office or a bank.
Islamabad is seeking bank guarantees from Afghan importers, encashable
in Pakistan on transit goods to ensure the consignments reach Afghanistan and not smuggled back to Pakistan," Pakistan commerce secretary Zafar Mahmood told reporters in Islamabad.
100 (non-refundable), issued by National Bank of Pakistan (NBP) and encashable
at NBP, Main Civic Centre Branch (341), Islamabad not later than June 30.
The loans could be recovered from the growers through vouchers encashable
at the designated banks in the manner specified hereunder: -
One year dollar bearer certificate shall be freely transferable and encashable
which can be purchased against foreign exchange by any person.
Within six weeks of the receipt of the Letter of Interest from PPB, the applicant shall have to furnish a Performance Guarantee, valid for one year and encashable
without recourse to the applicant, in the form of an irrevocable bank guarantee from a scheduled local bank or from a reputed foreign bank acceptable to PPB.
The balance 60 per cent was in the form of bank guarantee encashable
on a yearly basis over three years.