PAKISTAN HOSIERY MANUFACTURERS & EXPORTERS ASSOCIATION

(SOUTHERN ZONE)

37-H, BLOCK-6 P.E.C.H.S., KARACHI-PAKISTAN

TEL: 0092-21-34522769, 34522685, 34544765 FAX: 0092-21-34543774

E-MAIL: info@phmaonline..com  URL www.phmaonline.com   

REF. NO. PHMA/CIR-001/2011

DATED: 1^st January 2011

TO ALL MEMBERS OF THE ASSOCIATION

SUBJECT:   INCREASE IN RATE OF EXPORT REFINANCE TO 10% BY THE STATE BANK OF PAKISTAN.

We are attaching herewith news clipping of Daily Dawn and the News of 1^st January, 2011 from which you will find that State bank of Pakistan has raised rate of Export Refinance from 9% to 10%.

In this regard, all our valued members are requested to send us their view at the soonest.

Thanks & Best regards,

Saleem Parekh                              M. Jawed Bilwani              Junaid Makda         

Central Chairman                            Chief Coordinator                Chairman, SZ