Islamabad: The State Bank of Pakistan (SBP) has raised the refinancing limit for banks under the Export Finance Scheme (EFS); increasing it from the previous ceiling of PKR 600 billion to PKR 700 billion for exporters during (Fiscal Year) FY2020-21, a news source reported on August 20.
According to a statement issued by the central bank, PKR 90 billion have also been added to the Long-Term Financing Facility (LTFF) during the current fiscal. The government has also allocated PKR 100 billion limit under the Temporary Economic Relief Facility (TERF) – which is a refinance scheme for setting up industrial units.
Sharia-compliant forms of both facilities can also be acquired by the industries. The central bank has introduced a number of concessions under its various financing schemes in order to protect businesses and exports in the country, which has helped the country and its businesses weather the storm during the pandemic months.