KARACHI - The State Bank of Pakistan (SBP) has amended certain rules governing Primary Dealer System in order to streamline and further strengthen this system, said State Bank in a circular issued here on Tuesday.The purpose of these amendments is to create a balance between privileges and obligations of Primary Dealers (PDs) to achieve the objective of development of debt market in Pakistan.According to the amendments, all banks/ DFIs interested in Primary Dealer (PD) status, will have to ensure that their charges on Investor Portfolio Securities (IPS) accounts are reasonable and in line with SBP’s objective to broader the investors base of Government securities. PDs have been instructed to provide efficient IPS account related services to customers. PDs will be eligible to claim commission at 10 paisa per Rs 100 for all accepted Non Competitive Bids (NCBs) of individuals, employee provident/ pension funds and corporate except Asset Management Companies (AMCs), Mutual Funds, Insurance/ Mudaraba/ Leasing companies in Market Treasury Bill (MTB) and Pakistan Investment Bond (PIB) auctions.A maximum limit of Rs 250 million is placed for submitting NCB by any one investor in any one tenor of PIB/MTB auction. PDs will be required to display prices of Government Securities on Reuters, Bloomberg/ EBND and at their branches.The State Bank in a circular to all heads of Scheduled Banks/ Development Finance Institutions (DFIs)/ Investments Banks/ listed Brokerage Houses has consolidated the instructions issued from time to time on the rules governing primary dealer system.