SBP assures textile exporters of extending EFS II till Oct (Pakistan)

The State Bank of Pakistan (SBP) has assured value-added textile exporters of Pakistan that the central bank would further extend the performance period under Part-II of Export Finance Scheme (EFS) for the monitoring year 2011-12 till October 31, 2012.

 

The State Bank of Pakistan has already issued a notification allowing additional two months period till August 31, 2012, for the textile exporters having shortfall in required performance under Export Finance Scheme – II.

 

Subsequently, textile exporters requested Mr. Yaseen Anwar, Governor of SBP, to further extend the relaxation period by another two months, in addition to the two months already extended, to achieve the necessary performance under Part-II of EFS in view of delay in meeting export orders due to heavy shortage of power.

 

The extension in rollover period for the EFS is as per the normal practice, the SBP said.