State Bank reduces export performance requirement under EFS for hand-knotted carpets

Karachi: State Bank of Pakistan SBP reduced performance requirement for hand-knotted carpets against loans obtained under Part-II of Export Finance Scheme EFS during fiscal year 2010-11.

It has been decided to fix required performance for financing facilities availed under EFS Part II during FY 2010-11 at 1.50 times instead of existing performance requirements of 2.0 times for Hand knotted Carpets, says SBP circular issued Thursday. Entitlement of limits for FY 2011-12 shall, however, continue to be fixed as per existing criteria/ instructions, it added.

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