Commercial Banks approve financing of 61 billion under SBP’s Rozgar refinance Scheme

MG News | May 19, 2020 at 11:11 AM GMT+05:00

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May 19, 2020 (MLN): Businesses have started to benefit from SBP’s Rozgar Refinance Scheme as Commercial Banks have received applications from businesses to avail financing under the scheme for payment of wages and salaries of their employees.

This scheme would provide benefits to middle and large businesses, which employ a large number of people to prevent lay off workers for 3 months.

The total amount of loans would be 120 billion which will cover more than 1.1 million employees whose jobs will be supported under this scheme.

Of the total applications received by commercial banks under this scheme, banks have already approved financing of 61 billion covering 600,000 jobs, and the rest are in process.

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