Karachi: The State Bank of Pakistan (SBP) has announced another incentive package to help businesses retain their employees, a news source reported. To this effect, it has directed the country’s banks to provide refinancing at 0% interest rate.
According to a statement issued by the central bank, a number of other measures have also been announced to facilitate banks amid the ongoing coronavirus pandemic situation. State Bank has also reduced the interest rate from 4% to 3% for the active taxpaying businesses. The businesses have also been allowed to obtain loans from any bank instead of just the ones through whom they usually manage the salary for their employees.
Earlier this month, the government introduced an incentive package in a bid to ensure that businesses do not lay off their employees for the next three months. The new measures have been introduced based on the feedback about the previous package from stakeholders.
