Karachi December 29 2022: State Bank of Pakistan reduced the gap between policy rate and Export Finance Scheme and Long Term Financing Facility to 3 percent and attach it to policy rate, according to the notification issued by the Central Bank.
The Central Bank states, “It has now been decided to reduce the gap between policy rate and Export Finance Scheme (EFS) and Long Term Financing Facility (LTFF) rates from existing 5 percent to 3 percent. Accordingly, markup rates for financing under EFS (Part-I & Part-II) and LTFF are increased from the existing 11 percent p.a. to 13 percent 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 & LTFF rates is maintained at 3 percent.
