State Bank of Pakistan decides to allow reimbursement claims to all those businesses by which wages and salaries have been paid by own resources.

Refinance scheme for payment of wages and salaries to the workers and employees of business concerns due to Coronavirus pandemic had been announced in a notification on April 10, 2020, by the State Bank of Pakistan.

As per the sayings of the SBP, the entities that had applied for financing in the month of April 2020 but could not get approval in April due to formalities, are now allowed to claim reimbursement of salaries and wages paid in the month of April by using their own resources.

The SBP has also decided to follow similar facilitation for the month of May 2020.

The businesses, who applied for the facility under the captioned Schemes in May 2020, can pay wages and salaries from their own sources and claim reimbursement of the same after their financing is approved.

Also, those entities who could not apply for this refinance scheme in the month of April and paid salaries and wages to the workers and employees in the said month are allowed to claim reimbursement, provided all other terms and conditions including not laying off the employees are met.