KARACHI, June 30: Banks shall continue to avail refinance from the State Bank Banking Services Corporation against overall revolving limits sanctioned for them for fiscal year 2004-05 till finalization of new limits for 2005-06.
While intimating all banks about this through a letter issued on Thursday the central bank also said that the limits sanctioned by banks to individual exporters under part II of Export Finance Scheme for 2004-05 would continue up to August 31, 2005. This is aimed at enabling the exporters to avail financing facilities under the scheme pending preparation of the required documents and their due verification.
The facility under part II of the Export Finance Scheme is self-regulating so the exporters would work out their own estimate of their entitlement for 2005-06 and adjust existing borrowing accordingly.
The SBP has told all the banks to bring these things into the notice of their borrowers who avail of export financing scheme.
