ANNOUNCEMENT 20 Aug 2013In August 2013, the government of Pakistan announced a change in its trade finance instruments.
NUMBER OF INTERVENTIONS
On 20 August 2013, the State Bank of Pakistan (SBP) through Circular No. 3 (2013) introduced the Long Term Financing for the Export Oriented Services Sector to finance purchases of new capital goods.
Currently Transportation and Computer & Information Technology are the two sectors eligible to avail this facility. Eligible enterprises need to generate at least 50% of their sales abroad or annual exports greater than USD 5 million, whichever is lower. The loan will be for a maxiumum amount of Rs. 5 billion (USD 83 million) per enterprise with a maximum maturity of 10 years, including a 2 year grace period.