LTFFLong Term Financing Facility
LTFFLong Term Financial Forecast
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The proposed project entails extending a loan of up to US$70 million to LTFF with a maturity of up to four years.
To facilitate the banks in providing finance to the exporters and support the industry SBP has decided to further enhance banks' limits both under EPS and LTFF Schemes by Rs35 billion.
According to earlier instructions, the letters of credit established up-to December 31, 2009 were eligible for refinancing under LTFF Scheme.
He appreciated the endeavour of SBP to provide much needed finances to this sector, adding that ERS and LTFF have been designed for the specific needs of this sector.
FAISALABAD, April 02, 2010 (Frontier Star ): Pakistan Textile Exporters Association (PTEA) have expressed huge disappointment over increase in Export Finance Scheme (EFS) and LTFF refinance rates.
Abbas Afridi said the Ministry of Textile Industry would encourage setting up Pak Cotton brand, fashion labels and brands abroad to increase exports as brand Development requires long term financial commitment, the Ministry would develop a scheme similar to LTFF with State Bank of Pakistan in which loans may be made available at same policy rates available in LTFF scheme.
He said that SBP has taken a number of measures to support country's exports which include one year extension in mark-up subsidy for spinning sector, provision of 100 percent financing to banks against export finance provided to exporters, provision of one year moratorium on loans availed under the Long Term Financing Facility, extension in the period of refinancing under Export Finance Scheme (EFS) and provision of EFS to some categories of cotton fabrics and provision of LTFF to various spinning sectors and removal of margin requirement on imports.
SMEDA has also proposed inclusion of additional monetary concessions, for selected high growth sectors, such as gems & jewellery that may also be included in the list of sectors for which mark-up support of 2% on LTFF on purchase/import of machinery; and mark-up rate support of 1.
However, as compared to LTFF, banks' spread under this Facility is being increased by 0.
12 of June 27, 2011, issued by SBP here Monday, Para 3 of Development Categories of the list of sectors eligible for refinance under the LTFF Scheme, circulated vide MFD Circular No.