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041130
STATE BANK OF PAKISTAN - BANKING POLICY DEPARTMENT
BPD Circular No. 35 of 2004
November 30, 2004
The Presidents/ CEOs,
All Banks.
Dear Sirs /Madam,
EXPORT FINANCE SCHEME - REFIXATION OF RATES FOR DECEMBER, 2004
Please refer to BPD Circular No.33 dated the 30th
October, 2004 alongwith other instructions issued from time to time on the
captioned subject.
2. It has been decided that rate of refinance under the Export Finance Scheme
applicable for the month of December 2004 shall be 3.5% p.a. The commercial
banks shall, however, ensure that where financing facilities are extended by
them to the exporters for availing refinance facilities under the Export Finance
Scheme, their maximum margin / spread does not exceed 1.5% p.a.
3 The financing facilities under Part-B (Export Sales) of the Scheme for
financing Locally Manufactured Machinery shall also attract similar mark up rate
structure.
4. Other instructions on the subject shall remain unchanged.
Please acknowledge receipt.
Yours faithfully,
Sd/-
(Muhammad Kamran Shehzad)
Director
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