The State Bank of Pakistan on Friday announced that it will pay claims of 2nd instalment of export finance mark-up rate facility for the period from 01-03-2010 to 31-08-2010. According to SBP circular I.H. & SMEFD Circular Letter No 09 Ministry of Textile Industry has released additional budgetary allocation for FY 2011-12 to make payment up to 23 percent under export finance mark-up rate facility for the period from 01-03-2010 to 31-08-2010.
Accordingly, offices of SBP-BSC (Bank) would release export finance mark up rate facility to the extent of 23 percent of total claims against the cases, which have been found in order and where 55 percent reimbursement has already been made to the banks under said scheme. Budgetary allocations for 2011-12 will expire on 30-06-2012. Banks should immediately pass on this additional reimbursement to the concerned exporters, the circular added.
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