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020130
STATE BANK OF PAKISTAN BANKING SUPERVISION DEPARTMENT KARACHI.
BSD CIRCULAR NO. 05
30th January, 2002
All Banks
Dear Sirs,
Export Finance Scheme -Reinstatement of the facilities to bleached / unbleached cloth
Please refer to the instructions contained in our BSD
Circular No. 22 dated 19th August 2000 and the negative list circulated vide BSD Circular
No. 35 dated 28th September 2001.
2. It has been decided that henceforth the exporters of the bleached / unbleached
cloth exported at a price of above US$ 3 (or equivalent) per square meter shall be
eligible to avail financing facilities under Part-I of the Export Finance Scheme. As the
facility has been reinstated on the basis of the per square meter export price, in case of
substitution the exporters, availing the facilities under EFS shall remain liable to ship
bleached / unbleached fabric with a price not less that the per square meter price
of the original contract i.e. the substitution facility shall not be available by
substituting Firm Export Order/LC in respect of bleached / unbleached fabric exported at a
lower export price.
3. Other instructions on the subject shall remain unchanged.
Please acknowledge receipt.
Yours faithfully,
(Kazi Abdul Muktadir)
Director
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