Karachi May 23 2022: In addition to today’s policy rate increase, the interest rates on Export Finance Scheme (EFS) and Long Term Financing Facility (LTFF) loans are also being raised.
It has been decided that with effect from May 24, 2022, Mark up rate for financing under EFS is enhanced from 5.5% p.a. to 7.5% p.a., and Mark up rate for financing under LTFF is enhanced from 5% p.a. to 7% p.a.
Further, in the future, the rates of EFS and LTFF will be linked with SBP Policy Rate through a formula so that any change in Policy Rate is automatically reflected in the rates of these refinance schemes. While doing so, it will be ensured that rates on these SBP refinance facilities are maintained at such a level that they continue to provide sufficient incentive to the export sector of Pakistan.