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State Bank of Pakistan keeps export finance rate unchanged for October

KARACHI (October 01 2002) : The State Bank of Pakistan has decided to keep the rate of refinance unchanged for the month of October.

´It has been decided that the rate of refinance under the Export Finance Scheme i.e. 6.5 percent per annum, will continue to be applicable during the month of October, 2002,´ says circular issued by the State Bank on Monday.

The commercial banks have been allowed to charge maximum 1.5 percent per annum on under the Finance Scheme from the customers.

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

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