July refinance rate fixed at 7.5 percent

The State Bank of Pakistan (SBP) has decided that the rate of refinance under export finance scheme applicable for the month of July would be 7.5 percent per annum.
Referring to BPD Circular No. 20 dated May 31, 2005 along with other instructions issued from time to time on the subject, the SBP, however directed the commercial banks to 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 1.5 percent per annum.
The financing facilities under Part-B (export sales) of the scheme for financing locally-manufactured machinery would also attract similar mark up rate structure.