The State Bank of Pakistan has decided to lend the companies a loan at a discounted rate of interest equal to the salaries of the employees, introducing a new scheme.
The State Bank has introduced this scheme to encourage companies not to dismiss people from April to June.
According to the State Bank, it has been decided to give the companies a discount equal to the total amount of salaries of the employees at a discounted rate and the companies paying salaries up to Rs 20 crore will get a loan at the rate of 4-5%.
The State Bank announced that the companies paying salaries of up to 50 crore will get 50% financing facility while the banks will not be able to charge any fees for the three month salaries.
According to the central bank, the loan will be repaid for 2 years while a further 6 months will be available.
It is to be noted that lockdown is underway to stop the spread of corona virus in the country which has negative impact on the economy and the daily life is also deeply disturbed.
Industrialists who met Chief Minister Murad Ali Shah in the past had also warned that they could not pay salaries to employees next month.
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