Import of second hand machinery: SBP extends LTFF facility till June 30

The State Bank of Pakistan has decided that letters of credit (LCs) for import of second-hand machinery established up to June 30, 2010 will also be eligible for refinancing under the Long Term Financing Facility (LTFF) Scheme, according to SMEFD circular letter No 3 issued on Thursday.
According to earlier instructions, the letters of credit established up to December 31, 2009 were eligible for refinancing under LTFF Scheme. However, on the representation of stakeholders, the State Bank has extended the date.