KARACHI, Aug 29: The State Bank on Friday decided that 1.5pc rate of refinance under the Export Finance Scheme would continue to be applicable for September.

According to BPD Circular No 29, issued to all banks, the commercial banks shall, however, ensure that where they extend financing facilities to the exporters for availing refinance facilities under the Export Finance Scheme, their maximum margin/ spread does not exceed 1.5pc per annum.

The financing facilities under Part-B (Export Sales) of the Scheme for financing locally manufactured machinery would also attract similar mark up rate structure, SBP explained.—APP