Circulars/Notifications / Infrastructure, Housing & SME Finance Department  

 IH&SMEFD Circular No. 02 of 2017
January 13, 2017

The Presidents/ CEOs,
All Banks

Dear Sir/Madam,

Relaxations to Exporters of Rice and Leather & Leather
Manufactures under Export Finance Scheme (EFS) Part-II for FY 2015-16

In view of the particular circumstances impacting exporters of Rice and Leather & Leather Manufactures in meeting their required export performance, the following relief is being provided to these sectors under EFS Part-II for FY 2015-16:

i. An additional period of 3 months has been allowed to those exporters of rice and leather & leather manufacturers who have shortfall in required performance in the monitoring year 2015-16. Accordingly, eligible entries showing shipments and export proceeds realization up to September 30, 2016 are allowed to be included in the export performance of FY 2015-16. This export performance of extended period will also be considered for entitlement of limit for FY 2016-17.

ii. Exporters requiring this relaxation will have to submit additional EF-1 and EE-1 statements through their banks to respective SBP BSC office latest by February 15, 2017 duly verified by the concerned Foreign Exchange Operation Department/Division (FEOD).

2. Exporters who avail above benefit of extension in performance period shall not be allowed to avail benefit of incentives based rebate of mark up (under SBP SMEFD circular No. 6 of 2009) for the year 2015-16.

3. Other instructions on the subject shall remain unchanged.

Please acknowledge receipt.

 



Yours sincerely,

Sd/-
(Syed Basit Aly)
Director

 

       
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