The State Bank of Pakistan has announced that the rates of service charges under the scheme for financing Locally Manufactured Machinery (LMM) shall continue to be applicable for now, till further instructions are issued on rate adjustment.
The rate of refinance, to be paid by the ''Participating Financial Institutions'' (PFIs) to SBP would be 8 percent per annum, while maximum rate of finance to be charged by PFIs from the borrowers would be 10 percent per annum for financing up to six months.
The rate of refinance to be paid by the PFIs to SBP would be 8.50 percent per annum while the maximum rate of finance to be charged by PFIs from the borrowers would be 10.50 percent per annum for financing exceeding six months but up to two years.
The rates of refinance to be paid by the PFIs to SBP would be 9.50 percent per annum while maximum rate of finance to be charged by PFIs from the borrowers would be 11.50 percent per annum for borrowers requiring financing over two years up to maximum period ie seven and a half years.
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