KARACHI: The State Bank of Pakistan (SBP) has extended waiver for another 180 days for the purpose of availing financing under the Export Finance Scheme (EFS) to facilitate the exporters whose export proceeds are overdue.
According to an official Circular issued Saturday, the period of waiver has been extended up to June 30, 2010.
Earlier in July, the SBP extended the waiver till December 31, 2009.
This waiver is also applicable in case of exporters who have subsequently shipped additional consignments to the same importer or its associated company from whom export proceeds were overdue.
However, this relaxation will not be allowed where the payment in respect of shipments has been stuck up on account of discrepant documents, or failure of the exporter to ship the goods in accordance with the requirements of the importer, provided shipments so made and discrepant documents so sent have been accepted by the importer abroad.—APP
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