Observer Report
Islamabad
The State Bank of Pakistan under its refinancing scheme for protecting businesses from the impact of coronavirus, has so far deferred Rs644,083 principal repayments of loans up to one year.
The central bank had launched the refinancing scheme in collaboration with Pakistan Banks Association for deferment of principal amount with an aim to facilitate businesses and borrowers.
Likewise, the bank allowed restructuring or rescheduling of around Rs173,129 million so far, according to the updated data of the central bank up to August 21.
The number of borrowers that would benefit from this rescheduling relief has risen to 1,343,308, with outstanding amount of Rs2,412,839 it said.
Under the Refinance Scheme for Wages to Prevent Layoffs, the bank also received requests from around 2,950 businesses for financing upto Rs225,251 million to cover and ensure job security of 1,624,075 employees. Out of this, the bank approved requests of 2,346 businesses amounting to Rs171,046, which will provide cover to 1,358,943 employees.
