Foreign currency export finance mark-up (FCEF) rates amended

KARACHI, March 12: The State Bank of Pakistan, Wednesday night announced to amend the mark-up rates to be charged on the foreign currency export finance facility to be effective from March 15.

According to FE Circular No. 03, changing the mark-up rates announced in its previous circular No 12, issued on September 14, 2002, SBP announced that the rates of mark-up to be charged on the scheme for pre-shipment and post-shipment financing to the exporters would be 3.93pc.

In case of post-shipment financing where post-shipment insurance cover has been obtained by the exporters, the rate to be charged would be 3.43pc.

Rate of mark up for refinance to be charged by the SBP from the banks would be 1.93pc, SBP announced.

The mark-up rates would remain applicable until new rates are notified. The SBP also directed all the banks to incorporate the necessary amendments in the FE circular No 04, dated March 28, 2001. Other terms and conditions of the scheme would remain the same, SBP announced.

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