Home / Knowledge / News / Textiles / SBP extends export finance scheme till August
SBP extends export finance scheme till August
02
Jul '12
The State Bank of Pakistan has issued a notification allowing additional two months period for the exporters having shortfall in required performance under Part-II of Export Finance Scheme for the monitoring year 2011-12.
 
The decision was taken at the behest of Dr. Mirza Ikhtiar Baig, Federal Adviser on Textile and Chairman FPCCI Standing Committee on Exports, who urged Mr. Yaseen Anwar, Governor of SBP, to give a two-month relaxation to the textile exporters to achieve their required performance under the finance scheme in view of the problems of delay in meeting export orders due to heavy shortage of power.
 
The relaxation is, however, only for the purpose of allowing extended period, i.e. till August 31, 2012, for matching performance requirement and it should not be construed as an extension in export proceeds realization period as laid down under foreign exchange rules and regulations, the notification said.
 
It further said that those exporters who avail the benefit of two month extension in performance period will not be entitled to incentives based rebate of mark up for FY 2011-12.
 
Dr. Baig thanked the SBP Governor for relaxing the performance period under Part-II of Export Finance Scheme by two months and said it would bring major relief to the export-oriented textile sector of Pakistan.
 
He, however, urged textile exporters to not to hold back repatriation of their export proceeds, as doing so would negatively reflect on Pakistan’s balance of payment position.
 

Fibre2fashion News Desk - India


Must ReadView All

Market share of Indian textile items expand in 13 nations

Textiles | On 11th Dec 2017

Market share of Indian textile items expand in 13 nations

Thirteen countries — Germany, France, Italy, the United States,...

Courtesy: EUBrasil

Textiles | On 11th Dec 2017

Euratex, ABIT welcome negotiations for EU-Mercosur FTA

European Apparel and Textile Confederation (Euratex) and the...

Most firms expect no change in investment plans: CII survey

Textiles | On 11th Dec 2017

Most firms expect no change in investment plans: CII survey

Despite visible optimism in Indian industry with the Confederation of ...

Interviews View All

Angelina Francesca Cheang
MY ANJE

'Consumers in the age-group 21 to 38 are driving the activewear trend'

Nishank Patel
Shri Dinesh Mills Limited

Broad range of fabrics will sell well this financial year

Mandeep Nagi
Shades of India

Women value something that is unique and has a flavour of India

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

December 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.2%
No
12.1%
Skip
18.7%

Total Votes: 91

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.5%
No
30.8%
Skip
7.7%

Total Votes: 91

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
86.8%
No
9.9%
Skip
3.3%

Total Votes: 91

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.3%
No
8.8%
Skip
9.9%

Total Votes: 91


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search