KARACHI, June 30: The State Bank on Friday announced that it had kept the export refinance rate changed for the month of July.

A circular issued by the SBP said the rate of refinance at 7.5 per cent p.a, under the Export Finance Scheme, would continue to be applicable for July 2006.

Commercial banks will ensure that the financing facilities extended by them to the exporters for availing refinance facilities will carry a maximum margin or spread of 1.5 per cent p.a.

The financing facilities under part-B (export sales) of the scheme for financing locally manufactured machinery also attract similar mark-up rate structure.