Those exporters who avail extension benefit in performance period would not be allowed to avail benefit of incentives-based rebate of mark-up for the year FY 2011-12, said the State Bank of Pakistan's circular. - File photo

KARACHI: The State Bank has allowed an additional two months for exporters having shortfall in required performance under Part-II of the Export Finance Scheme for the monitoring year of 2011-12.

The bank said that the decision had been taken to address the delay in meeting the export orders due to heavy shortage of power.

This relaxation is only for allowing extended period (ie till August 31, 2012) for matching performance requirement and in no way be construed as an extension in export proceeds realisation period, said the SBP.

Accordingly, such exporters may include entries showing realisation of export proceeds during July and August, 2012 in their statement for the year 2011-12.

However, exporters having met the performance requirements of the scheme would submit statement for verification to Foreign Exchange Operations Department (FEOD) of the SBP Banking Services Corporation during July-August, 2012 as usual, said a circular issued by the Bank on Friday.

Those exporters who avail extension benefit in performance period would not be allowed to avail benefit of incentives-based rebate of mark-up for the year FY 2011-12, said the circular.

Follow Dawn Business on Twitter, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

Editorial

Judiciary’s SOS
Updated 28 Mar, 2024

Judiciary’s SOS

The ball is now in CJP Isa’s court, and he will feel pressure to take action.
Data protection
28 Mar, 2024

Data protection

WHAT do we want? Data protection laws. When do we want them? Immediately. Without delay, if we are to prevent ...
Selling humans
28 Mar, 2024

Selling humans

HUMAN traders feed off economic distress; they peddle promises of a better life to the impoverished who, mired in...
New terror wave
Updated 27 Mar, 2024

New terror wave

The time has come for decisive government action against militancy.
Development costs
27 Mar, 2024

Development costs

A HEFTY escalation of 30pc in the cost of ongoing federal development schemes is one of the many decisions where the...
Aitchison controversy
Updated 27 Mar, 2024

Aitchison controversy

It is hoped that higher authorities realise that politics and nepotism have no place in schools.