KARACHI, May 30: The SBP on Friday decided that rate of refinance under the Export Finance Scheme (EFS) at 2 per cent would continue to be applicable for June 2003.

The commercial banks will, however, ensure that where financing facilities are extended by them to exporters for availing refinance facilities under the EFS, their maximum margin spread does not exceed 1.5pc.

The financing facilities under Part-B (Export Sales) of the EFS for financing Locally Manufactured Machinery shall also attract similar mark up rate structure.—PPI