SBP : Extension in credit facility for exporters

Export proceeds realised shall be considered for entitlement of the financing limit of 50% in the EE-1 statement

KARACHI: The State Bank of Pakistan (SBP) has allowed further relief to exporters under the Part-II of the Export Finance Scheme (EFS). To further facilitate the exporters under the EFS Part-II, export proceeds realised up to August 31, 2012 shall be considered for entitlement of the financing limit of 50% in the EE-1 statement for fiscal year 2012-13, said SBP in a circular letter issued on Monday to all banks. Borrowing Limits sanctioned by banks under the Part-II of the scheme for previous fiscal year to exporters intending to avail the facility shall continue up to October 31, 2012, to enable them to avail financing facilities under the scheme pending submission of EE-1 statements for fiscal year 2012-13, circular said, adding to avail this opportunity exporters should inform the refinance unit of the respective SBP Banking Services Corporation office up to August 30, 2012 through their banks.

Published in The Express Tribune, August 7^th, 2012.