Circulars/Notifications / Infrastructure, Housing & SME Finance Department  

 IH&SMEFD Circular No. 01 of 2015
January 30, 2015

The Presidents/ CEOs,
All Banks,

Dear Sirs/ Madam,

Revision of Financing Rates under the Export Finance Scheme (EFS)


     Please refer to IH & SMEFD Circular No. 05 dated July 07, 2014 on the captioned subject.

2. It has been decided that the markup rate for exporters availing financing facilities under Export Finance Scheme (EFS) will be 6.0% p.a. with effect from February 02, 2015 till further instructions. Banks’ spread for Corporate borrowers and SME borrowers will remain unchanged i.e. 1% & 2% respectively.

3. The revised markup rate would also be applicable on outstanding loans granted under EFS. Accordingly, banks are advised to re-price their outstanding loans granted under EFS. Simultaneously SBP BSC offices would also apply reduced markup on outstanding refinance loans granted under EFS. In order to reconcile the position of re-priced loans, banks should submit particulars of outstanding loans re-priced by the bank under EFS on prescribed annexure–I to the concerned SBP BSC office(s) within 10 days from announcement of this circular.

4. The reimbursement of mark-up rate benefit to exporters, on excess performance under Part-II of the Scheme, as specified in SMEFD Circular No.15 dated October 31, 2009 and IH & SMEFD Circular No. 01 of 2014, will be adjusted accordingly keeping in view the revised mark-up rates.

5. Other instructions on the subject shall remain unchanged.


Yours faithfully,

Sd/-

(Ghulam Muhammad)
Director


       
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