Export Finance Scheme
Tuesday, February 24, 2009
State Bank of Pakistan (SBP) has extended the period of refinance facilities under Part-I of the Scheme. Salient features are as follows;- Period has been extended from 180 days to 270 days.
- Fresh finances facility will be available for 270 days to the exporters, however, banks will have to adjust the finance within a maximum period of 180 days, and allow rollover for an additional period of 90 days, provided shipment has been made by the exporters within a period of 180 days after withdrawal of the finance.
- In case of export finance already availed by exporters under Part-I of the Export Finance Scheme, banks may allow an additional period upto 90 days for repayment of export finance availed of for export of all eligible commodities, except where export proceeds have been realized earlier by the exporters.
- The exporters will get finance upto 85% of the value of firm export order/contract/letter of credit and will be required to make shipments equivalent to 117% against refinance availed for 270 days from the export of eligible commodities under Part-I (pre-shipment).
- In case of post shipment, exporters will be eligible to avail 85% refinance against the respective shipment.
- In case an exporter prefers to remain in the old system, he can avail export refinance facility for a maximum period of 180 days under existing terms and conditions.
To see the SBP circular click here!
Labels: Export Finance Scheme, Pakistan Economy, SBP
posted @ 1:22 PM,
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