The
Presidents/CEOs,
All Banks / DFIs /MFBs
Dear
Sirs/Madams,
Fiscal
Relief to Rehabilitate the Economic Life in Khyber Pakhtunkhwa,
FATA and PATA - Payment of mark-up rate subsidy on business
loans
for the period from 01-01-2010 to 30-06-2010 -Textile Sector
Please refer to SMEFD
Circular No. 11 dated July 01, 2010 regarding the captioned
subject.
2.
In this connection it is advised that Federal Government
has included the entire Textile Sector of Khyber Pakhtunkhwa
also in Prime Minister’s Fiscal Relief Package for
FATA/PATA/ Khyber Pakhtunkhwa. Further, Ministry of Finance,
Government of Pakistan has also released budgetary allocation
for payment of mark up rate differential on the existing
loans of the entire Textile Sector of Khyber Pakhtunkhwa
under said Package.
3.
However, two packages viz. Khyber Pakhtunkhwa
Package and the National Textile Policy Package will run
concurrently providing the option to the entire value chain
of textiles in Khyber Pakhtunkhwa to select one package
to the exclusion of the other. On the expiry of Khyber Pakhtunkhwa
Package after two years the entire value chain of textiles
in Khyber Pakhtunkhwa will avail the benefit of the National
Textile Policy for a further period of two years as provided
in the National Textile Policy.
4.
As above Relief Package is applicable from January
01, 2010, therefore, the exporters / borrowers of Textile
Sector who have already availed 2.5% Export Finance Mark
up Rate Facility and/or 5% Mark up Rate Support against
Long Term Loans for six months period ending on February
28, 2010, in terms of SMEFD Circular Nos. 03 & 04 of
2010, will be required to adjust the amount of said subsidies
for two months from 01-01-2010 to 28-02-2010 to avail mark
up rate subsidy under above Relief Package. Further, banks/DFIs
should ensure that benefits under above Packages are not
availed in duplication.
5.
Keeping in view the above terms & conditions, banks
/ DFIs may calculate mark up rate differential on outstanding
loans of Textile Sector, in the light of instructions contained
in SMEFD Circular No. 11 dated July 01, 2010 and submit
duly completed claims at SBP-BSC (Bank), Peshawar for reimbursement
of mark up rate differential for the period from 01-01-2010
to 30-06-2010 as per attached revised Claim Form, latest
by September 30, 2010.
Other
instructions on the subject shall remain unchanged.