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Circulars/Notifications - Infrastructure, Housing & SME Finance Department  

 IH&SMEFD Circular No. 17 of 2015
October 30, 2015

The Presidents/ CEOs,
All Banks


Dear Sirs /Madam,

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

Please refer to IH & SMEFD Circular No. 09 dated July 31, 2015 on the captioned subject.

2. It has been decided that under Export Finance Scheme (EFS), the markup rate for export of Textile Sector products will be 3.5% p.a. with effect from November 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 of Textile Sector granted under EFS. Accordingly, banks are advised to re-price their outstanding loans granted under EFS for Textile Sector. Simultaneously SBP BSC offices would also apply reduced markup on outstanding loans granted under EFS for Textile Sector. In order to reconcile the position of re-priced loans, banks should submit particulars of outstanding loans re-priced under EFS on prescribed annexure–I to the concerned SBP BSC office(s) within 10 working days after the date of issuance of this circular.

4. Other instructions on the subject shall remain unchanged.

Annexure


Yours faithfully,

Sd/-

(Ghulam Muhammad)
Director

 
       
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