Rozgar Refinancing Scheme Extended till September

Karachi (Business Reporter): State Bank of Pakistan extended Rozgar Refinancing Scheme till September 2020. Rozgar Scheme is being crafted for the corporate sector has been offered loan on concessional rates to pay salaries. (SBP”s detail statement

SBP stated in a statment: “SBP extends Rozgar Scheme for supporting employment for 3 months till 30 Sep20 and widens its scope in collaboration with Government of Pakistan.” “Businesses can obtain financing to pay wages and salaries for a maximum period of 6 months starting April 2020.”

SBP stated that Government of Pakistan has extended \validity of its Risk Sharing Facility for 3 months for SMEs and small corporates and enhanced risk coverage for SMEs from 40% to 60% First Loss on portfolio basis. “It will help banks to finance collateral deficient SMEs,” SBP officials said in a statement.

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