Mirza Ikhtiar Baig
BUSINESS

Dr.Mirza Ikhtiar Baig appreciated SBP increase in ERF Limit

KARACHI – Dr. Mirza Ikhtiar Baig SVP FPCCI & Chairman FPCCI standing committee on banking, credit & finance appreciated Governor State Bank Dr. Reza Baqir’s announcement to enhance export refinance limit of the banks by Rs. 100 billion.

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He said export refinance is concessional financing @ 3% to 6% against achieving double export performance. Dr. Baig informed that exporters complained that export refinances limits of their banks have been fully utilized with no room to accommodate new export refinancing requests.

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Dr. Baig also met Executive Director SBP Samar Husnain with a delegation in this regard. He said that new limits will certainly help to boost the exports of Pakistan. Dr. Baig also lauded Governor SBP for enhancing the advance payment limit to USD 10,000 import of spare parts and thanked Governor SBP Reza Baqir that restriction on advance payment imposed in July 2018 was a hindrance.

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