The Presidents/ CEOs,
All Banks/DFIs,

Dear Sirs/ Madam,

 

Scheme for Long Term Financing for the
Export Oriented Projects (LTF-EOP)

The matter regarding grant of prior approval by State Bank of Pakistan under the captioned scheme has been reviewed and is being clarified, as under:-

I. The Banks/DFIs, who have been approved as Participating Financial Institutions, under the captioned scheme and have also been sanctioned limits under the scheme, can open LCs and avail refinance from State Bank after seeking prior approval under Para 8(b) of the Scheme.

II. The LCs opened by the banks, prior to their approval as a PFI, shall not be eligible for financing under the Scheme.

III. No refinance shall be allowed against the LCs opened by approved PFI, but retired without obtaining prior approval from the State Bank of Pakistan as under Para 8(b) of the Scheme.

Please acknowledge receipt.