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