Please
refer to the captioned scheme circulated vide BCD Circular
No.29 dated the 11th October, 1977 as amended from
time to time.
2.
We
have to advise as under :-
I.
In terms of Para 2 of the Scheme, Banks are required
to submit application for approval of refinance limits based
on their equity. In order to avoid difficulties in providing
export finance under the Scheme, it has been decided to allow
the revolving refinance limits sanctioned to banks for the
year 2000-2001 to continue beyond 30th June, 2001 till such
time a new limit for the year 2001-2002 is sanctioned by us
and advised to them. In this context you are advised to please
furnish us your requirement of limit under the said Scheme
for the year 2001-2002 latest by the I5th July, 2001.
II.
The limit granted to the exporters by you under Part
II of the Export Finance Scheme for the year ending 30-06-2001
on the basis of export earnings of 1999-00 is allowed to continue
upto 31-08-2001. In the meantime the exporters may be advised
to submit fresh Form EE-1 for the year ending 30-06-2001 for
availment of loans for the monitoring year 2001-2002 and /
or to cover loans availed / adjusted during the above extended
period. It is however, clarified that the extension of limit
has been allowed with a view to keep the cases of immediate
refinancing (without waiting for verification of Form EE-1
by the Exchange Policy Department) to the minimum. The banks
should make every effort to have Form EE-1 of all their clients
concerned verified by the Exchange Policy Department and submit
the same to the respective Offices of SBP within the prescribed
period.
III.
The refinance already granted under Part-II to the
exporters of bleached / unbleached cloth in terms of
BSD Circular No.22 dated 19-8-2000 shall not be allowed to
be rolled over beyond 30th June, 2001 hence you are required
to invariably adjust all such outstanding refinance to SBP.
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