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markup rate

SBP slashes markup rate to 5 percent

KARACHI: The State Bank of Pakistan (SBP) has announced to reduce markup rate on investment under SBP’s Temporary Economic Refinance Facility (TERF) to 5 percent from the previous 7pc, In a statement, the SBP said that it has also reduced the markup rate on Long Term Financing Facility for the non-textile sector to 5pc from 6pc to extend the benefit of the recent reductions in the policy rate. Furthermore, the central bank has also allowed the TERF facility in cases where LCs/Inland LCs were opened prior but retiring…