This is with reference to the fresh limit of Letter of Credit Facility amounting to PKR 40 million along with a sub limit of Term Loan to be converted

This is with reference to the fresh limit of Letter of Credit Facility amounting to PKR 40 million along with a sub limit of Term Loan to be converted to SBP LTFF scheme amounting to PKR 40 million. In this connection, NBP would have a specific charge over the plant and machinery imported through this LC but currently, charge created by PDL is ranking in nature and needs to be upgraded after taking NOCs from various banks, for which PDL has given an undertaking aswell.

Therefore, you are requested to approach other banks for NOCs so that charge should be upgraded on time otherwise the said LC would be retired through FPAD and will cost you much higher.