KARACHI: State Bank of Pakistan (SBP) on Thursday enhanced export financing markup rate by 200 basis points to 13 per cent.
The SBP in a circular stated that it has now been decided to reduce the gap between policy rate and Export Financing Scheme (EFS) and Long Term Financing Facility (LTFF) rates from existing 5 per cent to 3 per cent.
Accordingly, markup rates for financing under EFS (Part-I & Part-II) and LTFF are increased from the existing 11 per cent p.a. to 13 per cent p.a. each with effect from December 30, 2022.
Further, as mentioned in above referred circular, in future with any change in the SBP policy rate, markup rates for EFS and LTFF will be revised automatically so that the gap between policy rate and EFS and LTFF rates is maintained at 3 per cent.
