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 4th, 2014.
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 4th, 2014.