State Bank of Pakistan (SBP) has restricted three-day Repo facility only to primary dealers. Earlier, on January 31, 2002, the SBP allowed SBP three-day Repo facility to Development Financial Institutions (DFIs) and investment banks (IBs) on the same terms and conditions as of the commercial banks by issuing BSD circular no 06.
However, on July 6 through a FSCD circular no 13, the SBP withdrew this facility and now it has been decided to restrict the SBP three-day Repo facility to scheduled banks and any non-bank institution working as primary dealer. These instructions would come into force from Saturday (July 7).