State Bank Announces Incentives for Businesses; says PM Khan – Research Snipers

State Bank Announces Incentives for Businesses; says PM Khan

Recently, PM Khan spoke about the ‘Refinance scheme to incentivize businesses’ for which the State Bank of Pakistan has announced incentives. He says that it is part of the government’s policy to take care of the people during the lockdown and ensure that the needy and vulnerable are being provided with the basic necessities.

Imran Khan wrote in his tweet that he is confident that this initiative will be very helpful to keep the businesses floating and it will also prevent unemployment.

He further added that the Ehsas Emergency Programme is also in progress and the government is looking forward to offering business incentives that the State Bank of Pakistan has announced recently.

PM Khan says that above and beyond tax refunds, the government is deciding to open up the construction sector just like the agricultural sector which was already open.

In his tweet, he also posted the video clip of Dr. Reza Baqir governor of state bank of Pakistan making the announcement for the provision of incentives. The governor also said not to suspend the workers from the businesses in the middle of coronavirus crises.

The SBP governor told everyone that this initiative has been announced to help the employees and workers from unemployment for at least 3 months in order to encourage all small and medium businesses not to suspend their workers or employees.

All the relevant information regarding the scheme is available on the SBP website with the contact numbers of those who will facilitate the applicants.

The markup rate for the incentives is set to 5% and in case of a tax filer, the rate is fixed to 4%. Also, people can avail loans up to Rs.200 million to Rs.500 million by moving the applications through banks.

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