{"id":64009,"date":"2020-04-13T16:35:32","date_gmt":"2020-04-13T11:35:32","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=64009"},"modified":"2020-04-13T16:58:46","modified_gmt":"2020-04-13T11:58:46","slug":"sbp-introduces-cheap-loans-scheme-prevent-layoffs","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/sbp-introduces-cheap-loans-scheme-prevent-layoffs.html","title":{"rendered":"SBP introduces cheap loans scheme to prevent layoffs"},"content":{"rendered":"\n

Karachi: The State Bank of Pakistan (SBP) has introduced cheap loans for businesses under a refinance scheme in a bid to prevent layoffs in the wake of the economic crunch caused by COVID-19<\/a>, a news source reported.<\/p>\n\n\n\n

Read: <\/strong>Punjab CM approves three flyovers worth PKR 5.4bn in Shahdara<\/a><\/p>\n\n\n\n

As per the publication, the \u2018Refinance Scheme for Payment of Wages and Salaries to the Workers and Employees of Business Concerns\u2019 will be made available to businesses throughout the country via commercial banks.<\/p>\n\n\n\n

Read: <\/strong>COVID-19: Punjab launches \u2018Mist Queen\u2019 vehicle service for antiseptic spray drive<\/a><\/p>\n\n\n\n

The loan scheme will cover contractual jobs, permanent jobs, outsourced workers, and daily wagers. According to details, the refinance scheme would provide salaries and wages expenditure from April to June to businesses that do not sack their employees in the said period.<\/p>\n\n\n\n

Read: <\/strong>Easypaisa partners with Punjab govt to distribute PKR 1.5 million in Zakat funds<\/a><\/p>\n\n\n\n

Further, the scheme would offer mark-up on loans up to 5% and for active taxpayers, a reduced rate of 4% mark-up on loan has been set. The scheme is designed to prevent layoffs small businesses.<\/p>\n\n\n\n

Read: <\/a><\/strong>Punjab PDMA shares guidelines for philanthropists looking to help people amid lockdown<\/a><\/p>\n\n\n\n

Those businesses whose salary and wage expenses reach up to PKR 200 million will be able to receive the full amount, while those whose salary expenses amount to PKR 500 million will receiving 50 percent of the financing. Those businesses whose expenses fall between PKR 500 million and PKR 200 million will avail 75 percent of their salary expenses for three months.<\/p>\n\n\n\n

Read: <\/strong>COVID-19 Ehsaas Programme Relief Package: Application process for Punjab citizens shared<\/a><\/p>\n\n\n\n

Additionally,\nbanks will not charge any credit limit fee, loan processing fee, and\npre-payment penalties for loans taken under the refinance scheme. The borrowers\nwill be given a six month grace period and the principal amount should be paid\nwithin two years.<\/p>\n","protected":false},"excerpt":{"rendered":"

Karachi: The State Bank of Pakistan (SBP) has introduced cheap loans for businesses under a refinance scheme in a bid to prevent layoffs in the wake of the economic crunch caused by COVID-19, a news source reported. Read: Punjab CM approves three flyovers worth PKR 5.4bn in Shahdara As per the publication, the \u2018Refinance Scheme for Payment of Wages and Salaries to the Workers and Employees of Business Concerns\u2019 will be made available to businesses throughout the country via commercial banks. Read: COVID-19: Punjab launches \u2018Mist Queen\u2019 vehicle service for antiseptic spray drive The loan scheme will cover contractual jobs, permanent jobs, outsourced workers, and daily wagers. According to details, the refinance scheme would provide salaries and wages expenditure from April to June to businesses that do not sack their employees in the said period. Read: Easypaisa partners with Punjab govt to distribute PKR 1.5 million in Zakat funds Further, the scheme would offer mark-up on loans up to 5% and for active taxpayers, a reduced rate of 4% mark-up on loan has been set. The scheme is designed to prevent layoffs small businesses. Read: Punjab PDMA shares guidelines for philanthropists looking to help people amid lockdown Those businesses whose…<\/p>\n","protected":false},"author":76,"featured_media":60606,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15017,15020],"tags":[26099,21853],"persona":[],"class_list":{"0":"post-64009","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-notices-announcements","8":"category-social-developments","9":"tag-refinance-scheme-for-payment-of-wages-and-salaries-to-the-workers-and-employees-of-business-concerns","10":"tag-state-bank-of-pakistan-sbp","11":"cat-15017-id","12":"cat-15020-id"},"acf":[],"yoast_head":"\nSBP introduces cheap loans scheme to prevent layoffs - Zameen News<\/title>\n<meta name=\"description\" content=\"Karachi: The State Bank of Pakistan (SBP) has introduced cheap loans for businesses under a refinance scheme in a bid to prevent layoffs in the wake\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/sbp-introduces-cheap-loans-scheme-prevent-layoffs.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SBP introduces cheap loans scheme to prevent layoffs - 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