The State Bank of Pakistan (SBP) has directed all banks/DFIs to revise their rates of finance on the loans outstanding under Long Term Financing for the Export Oriented Projects (LTF-EOP) Scheme effective from July 14, 2006 so as to pass on the benefit of reduction in spread to the borrowers of export oriented project.
In this connection, the SBP said that instructions regarding reduction in spread of banks/DFIs on financing provided by them under the LTF-EOP Scheme are also applicable on the loans sanctioned/disbursed prior to the issuance of SMED circular No 15 dated July 15, 2006.
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