• Petrol Prices in Pakistan
  • USD to PKR Rates
  • MTMIS – Online Vehicle Verification
  • Ehsaas Program
  • Punjab Rozgar Scheme
  • Naya Pakistan Housing Program
  • Mera Pakistan Mera Ghar Loan
Saturday, January 16, 2021
INCPak
  • World
  • National
    • Islamabad
    • Azad Kashmir
    • Balochistan
    • Khyber Pakhtunkhwa
    • Gilgit Baltistan
    • Sindh
    • Punjab
    • FATA
  • Health
  • Automotive
  • Technology
    • Tech News
    • Custom Roms
    • Tips & Tricks
    • INCPak Forum
    • Reviews
    • Phone Reviews
    • Crypto
    • Stock ROMs
    • What’s new?
    • Computer Stuff
    • INCPak Roms
  • Mobile Prices
  • Education
  • Entertainment
  • More
    • Editorial
    • Information
    • Travel
    • Beauty
    • Food
    • Music
    • Movies
    • Sports
    • Documentaries
    • Personalities
    • History
    • Economy
    • Emergency Numbers
No Result
View All Result
INCPak
No Result
View All Result

SBP enhances scope and financing limits under Rozgar Scheme

by FIA
May 11, 2020
in Business
Reading Time: 5min read
A A
0

Since its launch of Refinance Scheme to Support Employment and Prevent Layoff of Workers, called Rozgar Scheme in common parlance, State Bank has been constantly receiving feedback from various stakeholders, making the scheme more facilitative for businesses and creating incentives to prevent layoff of employees under current COVID Pandemic scenario. Many of the changes in the scheme were carried out to ensure that the benefits of the scheme particularly reaches to the SMEs that offer employment to a large number of people. In this regard, recently announced Government’s risk sharing facility and allowing corporate guarantees as collateral are expected to incentivize banks in extending loans to collateral deficient SMEs. Now taking another step further to facilitate middle and large
businesses, which employ large numbers of people, to ensure payment of wages and salaries under this scheme, SBP has decided to enhance its refinance limits announced earlier.

Read More: SBP to NOT issue Fresh Bank Notes on Eid-ul-Fitr 2020

Hence, State Bank will now finance up to 100% of wages and salaries of businesses with average 3-month wage bill of up to Rs500 million (see table below). This can be used for the onward payment of wages and salaries for the months of April, May and June, 2020. Earlier, 100% financing was available up to a wage bill of Rs200 million only. Similarly, for businesses with 3-month wage bill exceeding Rs500 million, State Bank will now finance of up to 75% with maximum financing of Rs1 billion. Earlier,
75% financing was available up to a maximum of Rs375 million and 50% up to a maximum of Rs500 million. The above changes are applicable with immediate effect. However, businesses that had earlier availed lower financing due to applicable limits can now avail additional financing on the basis ofrevised criteria. Further details on this measure are available in the SBP circular available at: http://www.sbp.org.pk/smefd/circulars/2020/CL10.htm

This increase in financing limits along with Government’s risk sharing facility for collateral deficient SMEs and small corporates will enable the full array of businesses to benefit from SBP’s Rozgar Scheme and hence prevent large scale lay offs. Further, State Bank has also extended the availability of its refinance scheme to non-deposit taking financial institutions as well. They can now avail financing under the scheme for payment of wages and salaries of their employees.

Since the launch of the scheme till May 08, 2020, banks have received requests of more than 1,440 businesses for the financing of over Rs. 103 billion for providing wages and salaries to around one million employees whose jobs have been supported because of this scheme. Of this amount, banks have already approved financing of Rs 47 billion for 500 companies covering over 450,000 employees

A complete list of the measures taken by the SBP to support the economy and public health since the outbreak of COVID-19 is available at: http://www.sbp.org.pk/corona.asp. If end-users would like further information on these SBP measures in the context of COVID-19 or if they are experiencing issues with commercial banks in benefiting from these measures, they can contact a dedicated COVID-19 SBP team by email at covid19 [email protected] or by phone at 111-727-273.

End-users are encouraged to review the material available at the above webpage including relevant circulars and any available FAQs before contacting the SBP for further information.

SBP Official Press Release

Read More: SBP to NOT issue Fresh Bank Notes on Eid-ul-Fitr 2020

Follow INCPAK on Facebook / Twitter / Instagram  for update.

ShareTweetPin2
Previous Post

Ehsaas Emergency Program issues more important announcements

Next Post

Realme 6 Price in Pakistan – another mid-range killer smartphone

Related Posts

Gold Rate in Pakistan, Gold Rate Pakistan, Gold Price in Pakistan, Gold Price Pakistan, Gold Rate in Pakistan Today, Gold Price in Pakistan Today, Gold Rate, Gold Price
Business

Gold Rate in Pakistan Today – 16 January 2021

by Ali Gulrez
Jan 16, 2021
BankIslami signs up with NIFT ePay for Digital Commerce Payments
Business

BankIslami signs up with NIFT ePay for Digital Commerce Payments

by FIA
Jan 15, 2021
Currency Exchange Rate Pakistan, Currency Rate Pakistan, Exchange Rate
Business

Currency Exchange Rate in Pakistan Today – 15 January 2021

by Ali Gulrez
Jan 15, 2021
USD to PKR, Dollar Rate in Pakistan, Dollar to PKR, US Dollar, Pakistani Rupee, Exchange Rate, PKR
Business

USD to PKR: Dollar rate in Pakistan Today – 15 January 2021

by Ali Gulrez
Jan 15, 2021
Gold Rate in Pakistan, Gold Rate Pakistan, Gold Price in Pakistan, Gold Price Pakistan, Gold Rate in Pakistan Today, Gold Price in Pakistan Today, Gold Rate, Gold Price
Business

Gold Rate in Pakistan Today – 15 January 2021

by Ali Gulrez
Jan 15, 2021
Currency Exchange Rate Pakistan, Currency Rate Pakistan, Exchange Rate
Business

Currency Exchange Rate in Pakistan Today – 14 January 2021

by Ali Gulrez
Jan 14, 2021
USD to PKR, Dollar Rate in Pakistan, Dollar to PKR, US Dollar, Pakistani Rupee, Exchange Rate, PKR
Business

USD to PKR: Dollar rate in Pakistan Today – 14 January 2021

by Ali Gulrez
Jan 14, 2021
Gold Rate in Pakistan, Gold Rate Pakistan, Gold Price in Pakistan, Gold Price Pakistan, Gold Rate in Pakistan Today, Gold Price in Pakistan Today, Gold Rate, Gold Price
Business

Gold Rate in Pakistan Today – 14 January 2021

by Ali Gulrez
Jan 14, 2021
Next Post
Realme 6 Price Pakistan

Realme 6 Price in Pakistan – another mid-range killer smartphone

PTA & FIA raids illegal gateway Exchange in Lahore

Leave a Reply Cancel reply

Your email address will not be published.

Follow us on Twitter

Qries

Latest News

Ride, Domestic Abuse, Domestic Violence

Short film ‘Ride’ focuses on the domestic abuse problem

Jan 16, 2021
Anoushay Abbasi Debuts as a Singer with Peer Bulavey  [Video]

Anoushay Abbasi Debuts as a Singer with Peer Bulavey [Video]

Jan 16, 2021
Samsung Galaxy S21, Galaxy S21 Plus, Galaxy S21 Ultra, Samsung Galaxy S21 Price, Galaxy S21 Price

Samsung Galaxy S21, S21 Plus and S21 Ultra – Price and Specifications

Jan 16, 2021
Gold Rate in Pakistan, Gold Rate Pakistan, Gold Price in Pakistan, Gold Price Pakistan, Gold Rate in Pakistan Today, Gold Price in Pakistan Today, Gold Rate, Gold Price

Gold Rate in Pakistan Today – 16 January 2021

Jan 16, 2021
MG Motors Pakistan, MG Motors Greenfield Status, MG Motors

MG Motors gets Greenfield status in Pakistan

Jan 15, 2021
The Lord of the Rings, Amazon

Amazon’s The Lord of the Rings series reveals description

Jan 15, 2021
Esra Bilgic, Esra Bilgic Pictures, Esra Bilgic Photoshoot

Esra Bilgic looks glamourous in latest pictures

Jan 15, 2021
Sajal Aly, What's Love Got To Do With It, Jemima Goldsmith, Sajal Ali, Whats Love Got To Do With It

Sajal Aly to star in Jemima Goldsmith’s What’s Love Got To Do With It

Jan 15, 2021
4 of the Most Impressive Pakistani Engineering Projects

4 of the Most Impressive Pakistani Engineering Projects

Jan 15, 2021
Indonesia earthquake, earthquake, quake, Majene, Mamuju

6.2 magnitude earthquake hits Indonesia, at least 35 dead

Jan 15, 2021

Follow us on Instagram

Qries

USD to PKR Rates

Qries

INCPak Official Logo

Independent News Coverage Pakistan - INCPAK Logo

Independent News Coverage Pakistan - INCPak.com

INCPak Official App - Download from Google Play Store

Vehicle Verification Online App

Vehicle Verification Online App

MTMIS Vehicle Verification Online Pakistan - Download from Google Play Store

Site links

  • About INCPak
  • Advertise with Us
  • Terms and Conditions
  • Privacy Policy
  • INCPak Team Members
  • Cookie Policy
  • Contact INCPak
  • About
  • Team
  • Advertise
  • Terms
  • Privacy Policy
  • Contact

Independent News Coverage Pakistan - All Rights Reserved © 2021
This site is hosted by Evolution Host

  • World
  • National
    • Islamabad
    • Azad Kashmir
    • Balochistan
    • Khyber Pakhtunkhwa
    • Gilgit Baltistan
    • Sindh
    • Punjab
    • FATA
  • Health
  • Automotive
  • Technology
    • Tech News
    • Custom Roms
    • Tips & Tricks
    • INCPak Forum
    • Reviews
    • Phone Reviews
    • Crypto
    • Stock ROMs
    • What’s new?
    • Computer Stuff
    • INCPak Roms
  • Mobile Prices
  • Education
  • Entertainment
  • More
    • Editorial
    • Information
    • Travel
    • Beauty
    • Food
    • Music
    • Movies
    • Sports
    • Documentaries
    • Personalities
    • History
    • Economy
    • Emergency Numbers
No Result
View All Result

Independent News Coverage Pakistan - All Rights Reserved © 2021
This site is hosted by Evolution Host

Go to mobile version