No change in refinance rate

The State Bank of Pakistan (SBP) has announced that the rate of refinance for January 2006 will remain 7.5 percent per annum.
The commercial banks will ensure that where they extend the financing facilities to the exporters for availing refinance facilities under the Export Finance Scheme, their maximum margin/spread does not exceed 1.5 percent per annum.
The financing facilities under Part-B (export sales) of the scheme for financing locally-manufactured machinery will have the same mark-up rate structure.