In view of the prevailing circumstances in the backdrop of challenges being faced by the export sector in post-COVID – 19 scenario, the following relief is being provided to customers under EFS/IERS and LTFF/ILTFF:

I. Relief under EFS/IERS:

A. Relaxation under EFS/IERS Part-I (Pre-shipment):

1. Six months extension in shipment period has been allowed for those Part-I loans, in which shipment is falling due from January 2020 till June 30, 2020.
   
2. In case of non-shipment after January 01, 2020 till to-date, the fine already charged shall be retained by SBP BSC offices till submission of Annexure-F (Application Form used for refund of non-shipment Fine) within extended period (i.e. six months). However, in cases where delayed shipment fine has already been charged against shipment falling due from January 01, 2020, the same shall be refunded.

B. Relaxation under EFS/IERS Part-II:

1. Currently the exporters availing EFS under Part-II are required to show at least 2 times matching export performance against financing availed during FY 2019-20 on daily average product basis. This has been reduced to 1.5 times. Likewise, export performance requirement for FY 2020-21 will also be 1.5 times.
   
2. Further, an additional period of 6 months has been allowed to exporters for meeting required export performance against financing of EFS/IERS-II for monitoring period of FY 2019-20. Accordingly, eligible entries showing shipments and export proceeds realization up to December 31, 2020 are allowed to be included in the export performance of FY 2019-2020. This export performance of extended period will also be considered for entitlement of limit for FY 2020-21.
   
3. Exporters will have to submit EF-1 and EE-1 statements showing exports of FY 2019-2020 through their banks to respective SBP BSC office latest by January 31, 2021 duly verified by the concerned Foreign Exchange Operation Department/Division (FEOD).

II. Relief under LTFF/ILTFF:

The following relaxations are being allowed under LTFF/ILTFF:

1. Exports requirement for availing financing facility during the period from January 01, 2020 to September 30, 2020 has been reduced from USD 5 million or 50% exports of total sales to USD 4 million or 40% exports of total sales.
   
2. One year additional period for export performance requirement under projected exports has been allowed for each category (i.e. 1st two years, 3rd year and 4th year requirement) falling in calendar year 2020.

2. Other instructions on the subject schemes shall remain unchanged.

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