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050430
STATE BANK OF PAKISTAN - BANKING POLICY DEPARTMENT
BPD Circular No. 18 of 2005
April 30, 2005
The Presidents/ CEOs,
All Banks.,
Dear Sirs/Madam,
EXPORT FINANCE SCHEME - REFIXATION OF RATES FOR MAY, 2005
Please refer to BPD Circular No. 12 dated March 31, 2005 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 May 2005 shall be 6.5% 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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