Karachi: The State Bank of Pakistan (SBP) on Wednesday widened the scope and extended the deadline of its ‘Rozgar Scheme for Supporting Employment’ campaign for another three months to prevent job layoffs during the prevailing coronavirus situation in the country, according to news sources.
As per an official SBP press release, the Rozgar Scheme has allowed deferment of principal amount and loans’ restructuring to enable businesses and households to improve their cash inflow. In addition, the central bank has also introduced several refinance schemes to support investments and employments to battle the economic crises ensued by the coronavirus outbreak in the country.
Moreover, the Rozgar Scheme will enable businesses to obtain funds to pay salaries and wages for a maximum period of six months – from April to September. As of June 19, banks have approved financing of PKR 25.4 billion for over 1,100 businesses covering wages and salaries of 220,000+ employees.
Since March, the SBP also reduced the financial cost to the public and private businesses, and domestic households by reducing the policy rate by a total of 625 basis points.
Hazafa reveres the art of writing and has been turned into a property enthusiast by profession. Her daily survival kit includes; tea, coffee, keyboard and paperbacks.
