Pakistan In Focus - SBP spends pkr 1.3 trillion during covid-19 pandemic.

The State Bank of Pakistan (SBP) has provided financial aid of over Rs1.3 trillion under financing packages and for medical facilities to mitigate the impact of lockdown imposed to contain the spread of coronavirus.

The State Bank of Pakistan deputy governor, while addressing a meeting at the Korangi Association of Trade and Industry (KATI), said for loans, financing packages and medical facilities, the SBP had provided Rs1.3 trillion so far.

Cumulatively, the central bank's support for the economy to combat Covid-19 amounted to 3.8 percent of gross domestic product (GDP), or Rs1,580 billion, according to a recent report of the SBP.

The State Bank disbursed Rs470 billion or 1.1 percent of GDP as interest rate benefit, as per the report. It deferred loans worth Rs650 billion, 1.6 percent of GDP.

The report stated that the central bank rescheduled loans worth Rs184 billion or 0.4 percent of GDP. It provided Rs207 billion or 0.5 percent of...