PAKISTAN HOSIERY MANUFACTURERS & EXPORTERS ASSOCIATION

PHMA House, 37-H, Block-6, P.E.C.H.S, Karachi.

Tel: 0092-21-34522769, 34522685, 34544765

Fax: 0092-21-34543774, E-mail: info@phmaonline.com





PAKISTAN HOSIERY MANUFACTURERS & EXPORTERS ASSOCIATION

(S/B ZONE)

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

TEL: 0092-21-34522769, 34522685, 34544765 FAX: 0092-21-4543774

E-MAIL: phamsbz@yahoo.com  URL www.phmaonline.com  

REF. NO. PHMA/CIR-006/2010
DATED: 14th January 2010

ALL MEMBERS OF THE ASSOCIATION

Subject:   SBP Loans under FAPE II

Dear Members,

Further to the meeting held on 6th January 2010 on the subject.

During the above meeting various suggestions were discussed in order to alleviate the problems related to FAPE II, such as requesting grant of one year moratorium in FAPE-II loans by State Bank of Pakistan. 

As you  are aware,  exporters usually obtain loans from SBP under FAPE II to meet their working capital requirement with the condition that they would export double of the loan under FAPE II. However, in view of existing worst economic situation and collapsed textile sector, most of the exporters who export their textile products would not be in a position to achieve the target of exports as required by SBP for obtaining loan under FAPE II.

All members affected by FAPE-II are requested to furnish their views / suggestions on the issue through letter addressed to the undersigned,  in order to enable the association to address this issue effectively.

 

Thanks & Best Regards,

 

AKHTAR YUNUS
Chairman SZ




PAKISTAN HOSIERY MANUFACTURERS & EXPORTERS ASSOCIATION (PHMA)
Central Office: PHMA House, 37-H, Block-6, P.E.C.H.S., Karachi-74500, Pakistan
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