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SBP allows relaxation to exporters under Part-II of EFS.

KARACHI, July 10 -- The State Bank of Pakistan has decided to allow an additional period of one month for the exporters having shortfall in required performance under Part-II for the monitoring year 2009-10.

According to a circular (SMEFD Circular No. 12) issued on Friday, exporters may include entries showing realisation of export proceeds during July 2010 in their EF-1 statement for the year 2009-10. However, exporters having met the performance requirements of the Scheme shall submit EF-1 statement for the purpose of verification to FEOD during July-August, 2010 as usual.

The State Bank of Pakistan has received representations from chambers / exporters' associations that heavy load shedding and shortage of raw material has adversely affected their production. As a result, some of the exporters could not ship export consignments in time leading to delay in export proceeds realisation during FY 2009-10. New instructions have been issued to facilitate exporters.

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Publication:Daily Times (Lahore, Pakistan)
Date:Jul 10, 2010
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