KARACHI: Normal financial interaction with Iran is likely to be restored by February next year in the wake of Tehran`s nuclear deal with world powers, said the State Bank of Pakist an`s (SBP) governor in a recent meeting a delegation of Pakistan Leather Garments Exporters Association (PLGME A).

The delegation, led by PLGMEA`s patron-in-chief Fawad Ijaz Khan, raised issues facing exporters in trade with Iran. The governor was briefed that Pakistan is importing leather from Iran, but payments are routed via Dubai because of sanctions.

Mr Ijaz suggested cutting export refinance rate on finishedgoods to three percent to incentivise their exports.

The PLGMEA chief urged the SBPgovernortogive concession to leather garments and goods exporters in export refinance obtained during 2014-15 since there was 9.7pc decline in exports of these products.