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Hand-knotted carpets: SBP revises performance criteria under EFS

Updated: 2010-6-29 Source: Texglobe-ÐÅÏ¢ÖÐÐÄ
KARACHI (June 29 2010): The State Bank of Pakistan on Monday revised performance criteria under the under Part-II of Export Finance Scheme (EFS) for hand-knotted carpets for the current 2009-10 fiscal year to facilitate exporters.

According to a Circular SMEFD Circular No 9 issued on Monday, it has been decided that the required performance for financing facilities availed under Part II of EFS during FY 2009-10 be fixed at 1.50 times against existing performance requirements of 2.0 times for hand-knotted carpets. The entitlement of limits for FY 2010-11 will, however, continue to be fixed as per existing criteria/instructions, the circular added.