Scheme for giving companies a salary equal to the discounted interest
The decision to give the State Bank the equivalent of a month's salary at a discounted interest
The State Bank of Pakistan has issued a scheme to encourage companies not to withdraw from April to June, in which a decision is made to pay the employees' salaries at a discounted rate of interest.
In this regard, the State Bank says that companies with salaries up to Rs 20 crore will get loans at 4-5%. The companies paying salaries of up to 50 crores will get 50% financing facility.
The central bank further stated that banks would not be able to charge any fees for three months' salaries. The original loan payment will be 2 years and 6 months discount will also be available.
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