Export Performance Target extended to 31st August

Karachi, June 30, 2012 (PPI-OT): Due to the massive power and gas load shedding in the country, the textile exporters could not meet the export target by 30th June 2012 required under Export Refinance Scheme Part-II of State Bank of Pakistan.

Dr. Mirza Ikhtiar Baig, Federal Advisor on Textile and Chairman FPCCI Standing Committee on Exports had taken up the matter with Governor SBP Yaseen Anwar to allow the textile exporters relaxation for 2 months to achieve the required Export Refinance Part-II performance. SBP has acceded to the request of Dr. Baig and necessary notification has been issued, extending performance period under ERF-II by 31st August 2012.

Dr. Baig thanked Governor State Bank Yaseen Anwar for the said facility to the exporters but also requested exporters that due to this relaxation do not hold repatriation of their export proceeds as it will adversely affect the foreign reserves and balance of payment position of the country.

For more information, contact:
Ministry of Textile Industry
Government of Pakistan
2nd Floor, Federal Cooperative Building,
G-5/2 Islamabad, Pakistan
Tel: +9251 921 2799 and 921 7242
Fax: +9251 921 4015
Web: www.textile.gov.pk