State Bank of Pakistan announces release of third instalment of mark‐up rate subsidy under Prime Minister’s Fiscal Relief Package
Karachi: The State Bank of Pakistan (SBP) today announced the release of third instalment of mark‐up rate subsidy on business loans for the period from January 01 to June 30, 2011 under the Prime Minister’s Fiscal Relief Package to rehabilitate the economic life in Khyber Pakhtunkhwa, Federally Administered Tribal Area (FATA) and Provincially Administered Tribal Area (PATA).
Duly completed claims for reimbursement of mark‐up rate subsidy for the period from January 01 to June 30, 2011 may be submitted separately for Textile Sector and Other Eligible Sectors to SBP‐BSC (Bank), Peshawar up‐to August 31, 2011.
SBP has informed all banks / Development Finance Institutions (DFIs) /Microfinance Banks (MFBs) that the rate of mark up differential for 3rd instalment, for six months ending on 30th June 2011, has been worked out at 6.18%. ‘Accordingly, banks and DFIs may calculate the amount of mark up rate differential on outstanding business loans of above areas, on the basis of above rates and keeping in view the terms and conditions contained in above Scheme,’ says IH and SMEFD Circular Letter No. 14 of July 25, 2011.
However, MFBs may calculate mark up rate differential to the extent of 22.5% p.a. i.e. differential between 7.5% p.a. and Weighted Average Lending Rates of MFBs i.e. 30% p.a. or actual rate whichever is lower, as communicated in September, 2010, the Circular Letter added.
For more information, contact:
State Bank of Pakistan (SBP)
Tel: +9221 3921 2562
Fax: +9221 3921 2563