Delegation complained about unavailability of Export Refinance Facility (ERF) from various banks.

KARACHI: A delegation of the Rice Exporters Association of Pakistan (REAP), led by Senior Vice Chairman Jawed Jillani, met with State Bank of Pakistan (SBP) Governor Jameel Ahmad and his team at the central bank.

Jawed Jillani informed the SBP governor about the challenges being faced by rice exporters. He requested him to waive the penalties imposed in the wake of late realisation of export proceeds, which was mainly due to the extra delay in transit time and was beyond the control of exporters. In response, the SBP governor issued instructions to remove the penalties.

The delegation complained about the unavailability of Export Refinance Facility (ERF) from various banks and the additional foreign exchange rates charged by shipping companies, which were Rs10-12 higher than the inter-bank rates. It also requested steps to facilitate the repatriation of long pending amount of rice exporters in Lebanon.

Published Date: August 13, 2025