Hand-Knotted Carpets: SBP reduces performance limit

KARACHI: The State Bank of Pakistan (SBP) has announced that it has eased performance requirement for hand-knotted carpets against loans obtained under Part-II of the Export Finance Scheme (EFS) during fiscal year 2010-11. In a circular issued on Thursday, SBP said the required performance for financing facilities during 2010-11 had been fixed at 1.5 times of financing availed instead of existing performance requirement of two times for hand-knotted carpets.

Published in The Express Tribune, July 1^st, 2011.