As per a press statement issued by SBP, all commercial banks / Development Financial Institutions (DFIs) have been advised to suspend payments of dividend for the two quarters ending March and June 2020. However, banks/DFIs that have approved dividend declaration for quarter ended March 2020 have been advised to suspend dividend distribution for June and … Read More “SBP advised Banks / DFIs to suspend dividend Payments” »
The State Bank of Pakistan (SBP) has announced a new Refinance Scheme called “Refinance Scheme for Payment of Wages and Salaries to the Workers and Employees of Business Concerns”. This scheme aims at supporting businesses affected by the coronavirus pandemic to ensure availability of funds at their disposal for payment of wages/salaries to their workers … Read More “What you need to know for applying under SBP`s Refinance Scheme for Wages and Salaries” »
With a view to combat the impact of COVID-19 pandemic, the State Bank of Pakistan (SBP) announced various refinance schemes. One of the schemes which received appreciation from the business community is the Refinance Scheme for Payment of Wages and Salaries to the Workers and Employees of Business Concerns. This facility provides concessional loans to … Read More “SBP relax requirements for refinance scheme for payment of wages and salaries” »
SBP reduces Special Cash Reserve Requirement on FE-25 deposits by 5%
Economic activity across the globe has come to a standstill as the COVID-19 pandemic situation is not normalizing. The International Monetary Fund (IMF) has stated that this economic situation will be the worst downturn since the Great Depression. The recovery of this situation will depend on the policy measures taken by the respective governments and … Read More “Policy decisions by Central Banks / Monetary Authorities to combat economic fall-out of COVID-19” »
Measures taken by Government of Pakistan to contain the economic impact of COVID-19 Pandemic.
In a statement issued by State Bank of Pakistan, it stated that under the SBP relief package announced in wake of coronavirus disease (COVID-19), 80368 borrowers benefited from deferment of principal repayment amounting to Rs. 20 billion, up till April 10, 2020. Further, advances amounting to Rs. 1.4 billion have been restructured. Moreover, 5126 application … Read More “Significant number of borrowers avail SBP`s relief package of principal deferment facility” »
