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Rs644 million loan payments deferred so far: SBP

SBP

KARACHI: The State Bank of Pakistan (SBP) has said that Rs 644,083 million of principal repayments of loans have been deferred under its refinancing scheme for protecting businesses from the impact of COVID-19 pandemic.

Earlier, SBP had launched the refinancing scheme in collaboration with the Pakistan Banks Association for deferment of the principal amount with an aim to facilitate businesses and borrowers.

Similarly, SBP permitted restructuring or rescheduling of around Rs173, 129 million so far, according to the updated data of the central bank up to August 21.

The number of borrowers that would benefit from this rescheduling relief has risen to 1,343,308, with an outstanding amount of Rs2, 412,839 million, SBP said in a statement.

Under the Scheme for Wages to Prevent Layoffs, the central bank also received requests from around 2,950 businesses for financing up to Rs225, 251 million to cover and make sure job security of 1,624,075 employees.

Out of this, the bank approved requests of 2,346 businesses amounting to Rs171,046 million, which will provide cover to 1,358,943 employees.

In the meantime, SBP under the scheme for hospitals to combat Covid-19, approved financing of Rs6, 143.5 million for 30 hospitals so far.

As many as 41 hospitals had requested for the financing amounting to Rs8, 400.54 million.

Similarly, under the Refinance Scheme for Setting-up New Projects or Expansion/BMR, the bank approved 76 requests of Rs32,923 million out of 168 projects amounting to Rs121,258.2 million.

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