1/5 #SBP introduces temporary #refinance scheme to incentivize businesses not to lay off their workers during #COVID19 pandemic. For details:
English: sbp.org.pk/press/2020/Pr-…
Urdu: sbp.org.pk/press/2020/Pr-…
2/5 Refinancing will be available to finance wages and salaries of 3 months, Apr-Jun20, for all types of workers and employees including permanent, contractual, daily wagers and outsourced workers.
3/5 Financing will be available at mark-up up to 5%. Borrowers on active taxpayers list will be charged 4% mark-up.
4/5 Businesses have been placed in 3 categories on the basis of 3months wage bill: up to Rs200mn, Rs200-500mn &above Rs500mn. In each category loan limits will be 100% of the wage bill to a max of Rs200 mn,75% of wage bill to a max of Rs375mn &50% of wage bill to a max of Rs500mn
5/5 Loan can be repaid in 2 years and 6 months with repayment of principal amount starting from Jan 2021.
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