The Presidents/ CEOs,

All Banks/DFIs

Master Circular – Long Term Financing Facility (LTFF) for Plant & Machinery

Dear Sir /Madam,

1. As you are aware that a number of amendments have so far been made in the Long Term Financing Facility (LTFF) for Plant & Machinery, which was initially circulated vide MFD Circular No. 07 dated December 31, 2007. In order to facilitate the stakeholders, State Bank of Pakistan has consolidated all the instructions under LTFF in the form of a master circular. To streamline the procedure for financing to the new projects / BMR of existing projects under LTFF, a standardized mechanism to monitor the required exports of existing as well as new projects has also been prescribed therein.
2. Financing under the LTFF shall continue to be available at the mark up rates, circulated vide IH&SMEFD Circular No 10 dated July 31, 2015 read with IH&SMEFD Circular No. 18 dated October 30, 2015.
3. Copies of updated & consolidated instructions on LTFF and prescribed documents are enclosed as annexures to this Circular. The same have also been placed on the State Bank’s website www.sbp.org.pk.

Encl:

Annexure-1: Updated Instructions on LTFF

Annexure-2: Documents of LTFF