SBP offers concessionary rates for companies to pay salaries during virus lockdown

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A money changer counts Pakistani rupee notes in Karachi, Pakistan, September 23, 2009. REUTERS/Athar Hussain/Files KARACHI: The State Bank of Pakistan (SBP) on Friday announced loans at concessionary rates for companies to be able pay their employees’ salaries during a lockdown imposed to contain the coronavirus pandemic. In a statement, the central bank said companies could borrow an amount equal to the sum of their employees’ remuneration for the months of April, May, and June at a lowered interest rate in order to ensure that people were paid during the lockdown and the economic impact from COVID-19 crisis could be controlled.

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