The program, known as the ‘Refinance Scheme to Support Employment and Prevent Layoff of Workers’, or the ‘Rozgar Scheme’, was initially launched on April 10. The State Bank will now finance up to 100pc of wages and salaries of businesses with an average three-month wage bill of up to Rs500 million. Previously, 100pc financing was available for up to a wage bill of Rs200 million only. Those businesses that had earlier availed lower financing, can now avail additional financing on the basis of revised criteria. The SBP has also extended its refinance scheme to non-deposit taking financial institutions as well, to help pay wages for their employees.

Source: Pakistan Today May 11, 2020 14:31 UTC