{"id":65363,"date":"2020-05-12T13:26:23","date_gmt":"2020-05-12T08:26:23","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=65363"},"modified":"2020-05-12T13:26:24","modified_gmt":"2020-05-12T08:26:24","slug":"sbp-to-finance-businesses-payroll-under-rozgar-scheme","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/sbp-to-finance-businesses-payroll-under-rozgar-scheme.html","title":{"rendered":"SBP to finance businesses\u2019 payroll under Rozgar Scheme"},"content":{"rendered":"\n<p>Karachi: The State Bank of Pakistan (SBP) on Monday announced that it will finance up to 100% of businesses\u2019 payroll with an average 3-month wage bill of up to PKR 500 million (up from the previous PKR 200 million limit) \u2014 with the initiative falling under the auspices of the Rozgar Scheme, according to news sources.<\/p>\n\n\n\n<p>As per the official circular, this relief loan can be used for payment of wages and salaries during the months of April, May and June.<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/sbp-introduces-refinance-scheme-to-support-employment-for-smes.html\" target=\"_blank\" rel=\"noreferrer noopener\">SBP introduces \u2018Refinance Scheme to Support Employment\u2019 for SMEs<\/a><\/p>\n\n\n\n<p>The SBP circular further revealed that the central bank had approved loan applications worth PKR 47 billion; which, in turn, had allowed 450,000 jobs to be saved. It stated that the bank had received requests from more than 1,440 businesses asking for financing worth PKR 103 billion in order to support over 1 million employees.<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/sbps-refinance-scheme-expected-save-850000-workers-losing-jobs.html\" target=\"_blank\" rel=\"noreferrer noopener\">SBP\u2019s Refinance Scheme expected to save 850,000 workers from losing jobs<\/a><\/p>\n\n\n\n<p>Previously, 100% financing had only been available for companies with a wage bill of &nbsp;up to PKR 200 million. However, now the SBP will provide complete financing to businesses with a 3-month wage bill of PKR 500 million, and up to 75% financing to firms with a wage bill exceeding that limit \u2014 with maximum support of up to PKR 1 billion.<\/p>\n\n\n\n<p>These changes are applicable with immediate effect and businesses can avail the additional financing with this revision in criteria. This increase in the financing limit \u2014 combined with the government\u2019s risk-sharing facility for collateral deficient small corporations, and small and medium enterprises (SMEs) \u2014 is expected to facilitate a full array of businesses, and prevent <a href=\"https:\/\/www.zameen.com\/news\/sbp-directs-bank-provide-refinancing-businesses.html\" target=\"_blank\" rel=\"noreferrer noopener\">large-scale layoffs<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Karachi: The State Bank of Pakistan (SBP) on Monday announced that it will finance up to 100% of businesses\u2019 payroll with an average 3-month wage bill of up to PKR 500 million (up from the previous PKR 200 million limit) \u2014 with the initiative falling under the auspices of the Rozgar Scheme, according to news sources. As per the official circular, this relief loan can be used for payment of wages and salaries during the months of April, May and June. Read: SBP introduces \u2018Refinance Scheme to Support Employment\u2019 for SMEs The SBP circular further revealed that the central bank had approved loan applications worth PKR 47 billion; which, in turn, had allowed 450,000 jobs to be saved. It stated that the bank had received requests from more than 1,440 businesses asking for financing worth PKR 103 billion in order to support over 1 million employees. Read: SBP\u2019s Refinance Scheme expected to save 850,000 workers from losing jobs Previously, 100% financing had only been available for companies with a wage bill of &nbsp;up to PKR 200 million. However, now the SBP will provide complete financing to businesses with a 3-month wage bill of PKR 500 million, and up to 75%&hellip;<\/p>\n","protected":false},"author":75,"featured_media":64432,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15016,15017],"tags":[28870,28869],"persona":[],"class_list":{"0":"post-65363","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-new-developments","8":"category-notices-announcements","9":"tag-rozgar-scheme","10":"tag-sbp-to-finance-businesses-payroll-under-rozgar-scheme","11":"cat-15016-id","12":"cat-15017-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>SBP to finance businesses\u2019 payroll under Rozgar Scheme - Zameen News<\/title>\n<meta name=\"description\" content=\"State Bank of Pakistan (SBP) announced that it will finance up to 100% of businesses\u2019 payroll with an average 3-month wage bill of up to PKR 500 million\" \/>\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-to-finance-businesses-payroll-under-rozgar-scheme.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SBP to finance businesses\u2019 payroll under Rozgar Scheme - Zameen News\" \/>\n<meta property=\"og:description\" content=\"State Bank of Pakistan (SBP) announced that it will finance up to 100% of businesses\u2019 payroll with an average 3-month wage bill of up to PKR 500 million\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/sbp-to-finance-businesses-payroll-under-rozgar-scheme.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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