Textile: Funds released for support schemes

A circular was issued by SBP on Thursday.

KARACHI: The Ministry of Textile Industry has released funds to make payments during the current financial year under the export finance mark-up rate facility and the mark-up rate support for the textile sector against long-term loans. A circular by the State Bank of Pakistan (SBP) on Thursday said that funds have been released for the payment of 100% of the export finance mark-up rate facility during September 1, 2010, and February 28, 2011, and for the payment of 100% of the mark-up rate support for the textile sector against long-term loans during March 1, 2011 and August 31, 2011. The circular further stated that banks and development finance institutions may lodge separate claims for mark-up support under these schemes by May 7.

Published in The Express Tribune, April 4^th, 2014.

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