Business Protection Scheme: SBP remits Rs. 657.3 billion of loans

Syed Umarullah HussainiWeb Editor

17th Dec, 2020. 02:55 pm
Banks

The State Bank of Pakistan (SBP), has remitted Rs. 657.3 billion principal repayments of loans up to one year under its refinancing scheme for protecting businesses from the impact of the novel coronavirus.

According to the details, the Central Bank also allowed restructuring or rescheduling of around Rs. 238.236 billion so far.

The number of borrowers that would benefit from this rescheduling relief has risen to 1,612,848 with an outstanding amount of Rs 2.518 billion.

Under its Rozgar scheme for protecting businesses and employees working with them from the impact of COVID-19, the central bank has so far approved Rs 238.2 billion for 2,958 businesses.

Meanwhile, the bank under this refinancing scheme for hospitals to combat Covid-19 approved financing of Rs7.77 billion for 39 hospitals so far.

State Bank of Pakistan (SBP) has introduced a temporary refinance scheme for payment of wages and salaries to the workers and employees of the business concerns.

This initiative was taken in order to combat the impact of COVID-19 and to help the businesses in payment of wages and salaries to their workers and employees and thereby support continued employment in this challenging environment. This Scheme was aimed to ease cash flow constraints of the employers and thereby avoid layoffs.

Pakistan COVID-19 Situation

Pakistanis death toll due to the novel coronavirus has hit 9,080 after 70 more fatalities recorded in the past 24 hours.

According to the National Command and Operation Centre (NCOC), 2,545 new infections were reported in a single day.

In the past 24 hours 7,993 patients have recovered from the dread virus during the last 24 hours and 2,505 patients are in critical condition, however, no critical case was added in today’s tally.

The total count of active cases is 42,851 and the positivity rate is recorded up to 6.34 percent. The national caseload currently stands at 448,522.

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