Hand-knotted carpet exporters: SBP reduces 'required performance' for finance facility

The State Bank of Pakistan on Monday announced to reduce required performance for export financing facilities for hand knotted carpets. The required performance for financing facilities availed under Part II of Export Finance Facility during fiscal year is be revised to 1.50 times against existing performance requirements of 2.0 times for exporters of hand knotted carpets.
The entitlement of limits for fiscal year 2009-10 shall, however, continue to be fixed as per existing criteria and instructions, SBP said. All other instructions will remain unchanged, the SBP said.