SBP extends waiver up to June 30 to facilitate exporters

KARACHI: The State Bank of Pakistan has decided to extend waiver up to June 30, 2011 for availing financing under the Export Finance Scheme (EFS) to those exporters whose export proceeds were overdue. The extension in waiver has been granted through a Circular (SMEFD Circular Letter No. 6) issued to the Presidents / CEOs / Country Managers of all banks today. It may be mentioned here that the State Bank had previously granted a waiver of 180 days, up to December 31, 2010 for the above mentioned purpose through its circular dated June 30, 2010.-PR