Banks sanction Rs23 billion loans to companies to avoid layoffs


Photo: File KARACHI: Banks have sanctioned more than Rs23 billion in concessional loans to various companies for payment of wages and salaries to their workers and employees and to prevent layoffs as a result of the coronavirus lockdown, reported The News. According to the State Bank of Pakistan (SBP), banks are further processing over Rs90 billion worth of applications under its refinance scheme to support employment and avoid layoffs.