PAKISTAN: Government releases textile support funds
Pakistan's Ministry of Textile Industry has released funds to make payments this fiscal year under the export finance mark-up rate facility and mark-up rate support for the textile sector against long-term loans.
A circular issued by the State Bank of Pakistan last week said funds have been released for payment of 100% of the export finance mark-up rate facility during 1 September 2010 and 28 February 2011, and for the payment of 100% mark-up rate support for the textile sector against long-term loans during 01 March 2011 and 31 August 2011.
The circular also stated that banks and development finance institutions may lodge separate claims for mark-up supports under these schemes by 7 May.
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