KARACHI: The State Bank of Pakistan (SBP) has announced a reduction in gap between the policy rate and the rates applicable on Export Finance Scheme (EFS) and Long Term Financing Facility (LTFF) from the existing 5 per cent to 3pc.
“Accordingly, markup rates for financing under EFS (Part-I & Part-II) and LTFF are increased from the existing 11pc per annum to 13pc per annum each with effect from December 30, 2022,” a circular issued by the central bank says.
“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 3pc. Other instructions on the subject shall remain unchanged.”
