KARACHI, Jan 22: The chairman, Pakistan Leather Garments Manufacturers & Exporters Association, Fawad Ijaz Khan, has said that the Habib Bank offer of dollar financing at 6.5 per cent is not the most attractive offer for exporters.

In a statement the Association said on Monday that technically and as per State Bank dollar scheme of export refinance the mark-up rate should not be more than 5 per cent.

He further said that the mark-up of export refinance scheme of State Bank of Pakistan in dollars is 3.84 per cent. The SBP is allowing banks to charge a maximum mark-up of 2 per cent from exporters on top of 3.84 per cent which the banks will pay to the SBP.

Fawad refuted the claim of president Habib Bank that HBL’s offer of 6.5 per cent to exporters is most lucrative offer ever made by any bank operating in the country.