Rozgar scheme deadline extended.

KARACHI -- The State Bank of Pakistan (SBP) on Wednesday widened the scope and extended the deadline of the Rozgar Scheme for Supporting Employment for another three months.

'To improve the cash flow of businesses and households, it [the Rogzar scheme] allowed deferment of principal amount and restructuring of loans. In addition to these measures, the SBP introduced several refinance schemes to support employment and investment to fight the economic impact of Covid-19,' said the SBP in an official release.

The SBP has taken several steps to provide economic support to businesses and households since the coronavirus outbreak. The central bank has reduced the financial cost to the private and public businesses and households by reducing the policy rate by a cumulative 625 basis points since Mar 17.

'This scheme provides concessional loans to businesses for wages and salaries expenses provided they commit not lay off their employees for the period of the loan,' it said.

'The SBP has decided to extend the validity of this scheme by another three months till September. Businesses will now be able to obtain financing to pay wages and salaries for a maximum...