SBP facilitates rice exporters

KARACHI - The SBP has allowed rice exporters one-time facility of getting financing up to 100 per cent instead of 85 per cent of the value of firm export order/contract and letter of credit. The step has been taken in order to facilitate domestic rice procurement process for exports, says a circular no SMEFD-16, received here. The rice exporters will be required to make shipments equivalent to 100 percent instead of 117 pc against refinance availed for 270 days from the export of eligible commodities under Part-I (pre-shipment). This relaxation will be available to rice exporters only for the current 2009-10 fiscal year, the Circular added.

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