The State Bank of Pakistan on Thursday announced to provide the export refinance facility for export of bleached and unbleached cloth with export value of $2.50 per square meter. SBP referring to the negative list attached to BPD Circular No 5 dated 24th February 2003 has made these changes.
Under the existing provisions of the Export Finance Scheme, export refinance facility is available for export of bleached/unbleached cloth with export value of $3.00 (or equivalent) per square meter.
However, it has now been decided that refinance facility will also be available for export of bleached/unbleached cloth with export value of $2.50 or above per square meter, said SBP. Accordingly, necessary changes may be made in the Negative List. While other instructions on the subject shall remain unchanged, the central bank directed banks in the circular.