Pakistan Central Bank Revises Financing Standards for Hand-Knotted Carpets

According to Pakistan’s “Daily Times” report, the Central Bank of Pakistan has revised the financing standards for hand-knotted carpets in the Export Financing Scheme (EFS) for the fiscal year 2009-10 (July 2009-June 2010). Industry exporters provide greater convenience. According to a communiqué issued by the Central Bank of Pakistan, according to Part 2 of the Pakistan Export Financing Plan for the 2009-10 fiscal year, the existing standard for Pakistani hand-knotted carpet exporters to obtain financing facilities is twice the prescribed export performance. The Central Bank of Pakistan has decided to adjust the standard. The minimum is 1.5 times the prescribed export performance, but the existing standards will continue to be maintained in the 2010-11 fiscal year. At the end of the last fiscal year, the Central Bank of Pakistan also made the same policy adjustments to carpet export financing in response to the decline in exports.