Karachi:Under State Bank of Pakistan (SBP) relief package offered due to Covid-19 pandemic and subsequent economic crisis, 80368 borrowers benefitted from deferment of principal repayment worth Rs20bn. “Additional Rs. 1.4 billion has been restructured. 5126 application were also under process,” SBP announced on Wednesday.
SBP has also previously offered low mark-up – at 4% and 5% loans to firms to pay salaries and wages to their workers for three-month period as companies struggle to generate revenues under the lockdown. Meanwhile, SBP announced that banks will function during 10am to 4pm from Monday to Thursday and from 10am to 1pm on Friday till April 28.