Karachi: State Bank of Pakistan SBP has 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. Entitlement of limits for FY 2011-12 shall, however, continue to be fixed as per existing criteria / instructions, circular added.