Long-term financing facility: Plant for food packaging included

plant & machinery used for preservation/ packaging/ canning of fruits/ vegetables and producing cereals

KARACHI: The State Bank of Pakistan (SBP) has announced that plant and machinery used in export-oriented projects for producing packaging material exclusively used in packaging and preservation of food items will be eligible for refinance under Long-term Financing Facility (LTFF) scheme. In a circular issued on Monday, SBP said that for the purpose the list of sectors eligible for refinance under LTFF had been amended. According to the list, “plant & machinery used for setting up of units for the purpose of preservation/ packaging/ canning of fruits/ vegetables and producing cereals as well as plant and machinery required for producing material exclusively used in packaging/ preservation of food items (are eligible for refinance under LTFF scheme).”

Published in The Express Tribune, June 28^th, 2011.