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011227

STATE BANK OF PAKISTAN, BANKING SUPERVISION DEPARTMENT, CENTRAL DIRECTORATE KARACHI

BSD Circular No.48
27^th  December,  2001

All Banks,
Dear Sirs,

EXPORT  FINANCE  SCHEME

Please refer to BSD Circular No.44  dated  21^st  November,  2001 along with other instructions issued on the captioned subject from time to time. 

2.  It  has been decided that effective  from  1^st  January,  2002, the rate at which State Bank would allow refinance to banks on their disbursement to exporters  under the captioned  scheme shall be  8% p.a.  The commercial banks shall, however, ensure that where financing facilities are extended by them 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,

(  Shoaib  Ahmad  )
Senior Joint Director

2.   It  has been decided that effective  from  1^st  January,  2002, the rate at which State Bank would allow refinance to banks on their disbursement to exporters  under the captioned  scheme shall be  8% p.a.  The commercial banks shall, however, ensure that where financing facilities are extended by them 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,

(  Shoaib  Ahmad  )
Senior Joint Director

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