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Summary The SBP has extended the limits sanctioned by banks to individual exporters till August 31.
Under the present system, exporters are required to submit EE1 statement for the year 201011, duly verified by the Foreign Exchange Operations Department of SBPBSC, latest by August 31, 2011. Therefore, banks would not be in a position to work out revised entitlement of limits for each exporter under PartII of the scheme for the year 201112.In order to ensure that financing facilities are available to borrowers till finalisation of new limits under Long Term Financing Facility (LTFF) scheme for the financial year 201112, it has been decided to continue with the existing limit until fresh limits.
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