KARACHI: The State Bank of Pakistan extended its relief package to borrowers availing loans under six refinance schemes, according to a statement released on Friday. Friday’s step will allow for similar relaxations on concessional refinance schemes. Under the relief package, loans were provided with preferential terms and conditions to promote growth in priority sectors of the economy. This relaxation will now also be available for financing of banks and development finance institutions (DFIs) under the SBP’s refinance schemes as well. According to the SBP, the borrowers will, however, continue servicing their mark up during the period of principal deferment.

Source: Pakistan Today April 04, 2020 03:56 UTC