State Bank of Pakistan has allowed rice exporters one-time facility of getting financing up-to 100 percent instead of 85 percent of the value of firm export order/contract/letter of credit to facilitate domestic rice procurement process for exports.According to a SBP Circular SMEFD-No.16 here on Wednesday, rice exporters will be required to make shipments equivalent to 100 percent instead of 117 percent against refinance availed for 270 days from the export of eligible commodities under Part-I (pre-shipment).This relaxation will be available to rice exporters only for the current 2009-10 fiscal year, the Circular added.
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