The
Presidents/ CEOs,
All Banks.
Dear
Sirs /Madam,
EXPORT
FINANCE SCHEME-EXTENSION OF LIMIT
As you are aware, export refinance limits sanctioned in
favor of banks for the year 2007-08 are due to expire on
30-06-2008. Under the present system, exporters are required
to submit EE-1 statement for the year 2007-08 duly verified
by our Foreign Exchange Operations Department latest by
August 31, 2008. Banks would therefore not be in a position
to work out revised entitlement of limits for each exporter
for availment under Part-II of the Scheme for the year 2008-09.
In order to ensure that the financing facilities are available
to exporters till finalization of their new limits under
Part-II of Scheme, it has been decided as under: -
I.
Limits sanctioned by banks to individual exporters under
Part-II of EFS for 2007-08 is allowed to continue upto August
31, 2008 as usual, to enable the exporters to avail financing
facilities under the Scheme pending preparation of EE-1
statements, their verification by the Foreign Exchange Operations
Department, SBP, BSC, (Bank) and submission of the same
to the Refinance Units of the concerned office of SBP-BSC
(Bank).
II. The limits of banks as on 30-6-2008 under EFS including
Islamic Export Refinance Scheme (IERS) is allowed to continue
till fixation of new limits for FY 2008-09.
Please
acknowledge receipt.