Please refer to IH & SMEFD Circular No. 04 dated September 10, 2012 on the captioned subject.

2.         It has been decided that rate of refinance under the Export Finance Scheme applicable from January 01, 2013 and onward will be 8.30% p.a. till further instructions. The commercial banks shall ensure that where financing facilities are extended by them to the exporters for availing refinance facilities under the Export Finance Scheme, their maximum margin/spread does not exceed 1% p.a.
3.         The revised reduced markup rate would also be applicable on outstanding loans granted under EFS.  Accordingly, banks are advised to immediately re-price their outstanding loans granted under EFS, keeping in view the revised reduced markup rate. Simultaneously SBP BSC offices would also apply reduced markup on outstanding refinance loans granted under EFS. In order to reconcile the position of re-priced loans, banks should submit particulars of outstanding loans re-priced by the bank under EFS on prescribed annexure–I to the concerned SBP BSC office(s) within 10 days from announcement of this circular.
4.         The reimbursement of mark-up rate benefit to exporters, on excess performance under Part-II of the Scheme, as specified in SMEFD Circular No.15 dated October 31, 2009, will be adjusted accordingly keeping in view the revised mark-up rates.

5.         Other instructions on the subject shall remain unchanged

Encl:       As above