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030913
STATE BANK OF PAKISTAN EXCHANGE POLICY DEPARTMENT
F.E. Circular No. 17
September 13, 2003
All Authorized Dealers
in Foreign Exchange
Dear Sirs,
FOREIGN CURRENCY EXPORT FINANCE (FCEF) FACILITY
Please refer to F.E. Circular No.3 dated 12th
March, 2003 containing therein mark up rates to be charged on the above scheme
circulated vide F.E. Circular No. 04 dated 28th March, 2001 read with F.E.
Circular No. 7 dated 17th April, 2003.
2. It has been decided that rate of refinance under the captioned scheme
notified vide our circular
referred to above i.e. 1.93% shall continue to be applicable from 15th
September, 2003 until next review due
on 15th March, 2004. It is understood that the Banks spread on financing under
the scheme shall not in
excess of their average lending spread on financing (foreign currency & local
currency) for exports.
3. Other instructions on the scheme shall remain unchanged.
Please acknowledge receipt.
Yours faithfully,
(Syed Samar Hasnain )
Joint Director
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