Circulars/Notifications - Banking Supervision Department  
 BSD Circular No. 47
21st December, 2001  

 All banks

 Dear Sirs,

Relaxations to the exporters of leather garments & leather

products under  Export Finance Scheme

Under the existing instructions on the Export Finance Scheme,  finance is available to exporters across the board for 180 days.  Since the exporters of Leather Garments are facing problems of cancellation of orders / LCs and delay in repatriation of export proceeds, after the 11th September incidence this year, it  has been decided to relax the provisions of the Export Finance Scheme in respect of  leather garments and leather products as under:-

 

a)                  Where export finance has been availed under Part-I of the Export Finance Scheme upto 30th September, 2001 and the exporter have been unable to make the shipment of the above commodity within 180 days of availment of loans a further period of 90 days has been allowed for effecting shipments. In other words, any exporter who had availed loan for export of the above commodity prior to 30th September, 2001 and has shipped goods with delay, a maximum period of 90 days will be available for which fine for delayed shipment will not be levied. Exporters will however be obliged to liquidate the finance/refinance within a period of 180 days.

 

b)                  The exporters of leather garments and leather products availing facility under Part-II shall be required to show matching performance for the year 2001-2002 equal to at least 1.5 times  instead of 2.0 times prescribed for all other eligible commodities under the Scheme.

 

2.         Other instructions on the subject shall remain unchanged. 

 

            Please acknowledge receipt.


Yours faithfully,
(Shoaib  Ahmad)
Senior Joint Director
       
Home
About SBP
Publications
Economic Data
Press Releases
Circulars/Notifications
Laws & Regulations
Monetary Policy
Help Desk
SBP Videos
Feedback
Contact us
What's New?
Speeches
Online Tenders
Web Links

Educational Resources
Regulatory Returns
Library
Rupey ko Pehchano
Events
Zahid Husain Memorial Lecture
Careers
Sitemap
 
Best view Screen Resolution : 1024 * 768
Copyright © 2016. All Rights Reserved.