All Authorised Dealers
in Foreign Exchange

Dear Sirs,

FOREIGN CURRENCY EXPORT FINANCE (FCEF) FACILITY

Please refer to F.E. Circular No.6 dated the 15th March, 2002 containing therein mark up rates to be charged on the above scheme circulated vide F.E. Circular No. 04 dated the 28th March, 2001.

2. The rates of mark up to be charged on the said scheme as from 16th September, 2002 shall be as under: -

a)	For Pre-shipment and post shipment financing to the exporters.	4.57%
b)	In case of Post shipment financing where post shipment insurance cover has been obtained by the exporter.	4.07%
c)	Rate of mark up for refinance to be charged by SBP from the banks.	2.57%

The aforesaid mark up rates shall remain applicable until new rates are notified. Necessary amendments may please be incorporated in the F.E. Circular No. 04 dated 28th March, 2001.

3. Other terms and conditions of the scheme shall remain unchanged.

Please acknowledge receipt.