Printer Friendly

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.

Published by HT Syndication with permission from Daily Times. For more information on news feed please contact Sarabjit Jagirdar at htsyndication@hindustantimes.com

Copyright HT Media Ltd.

Provided by Syndigate.info an Albawaba.com company
COPYRIGHT 2010 Al Bawaba (Middle East) Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2010 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Daily Times (Lahore, Pakistan)
Date:Jul 10, 2010
Words:183
Previous Article:Ostrich dies at Marghazar Zoo.
Next Article:Punjab govt withdraws changes in nikah form.

Terms of use | Privacy policy | Copyright © 2019 Farlex, Inc. | Feedback | For webmasters