Rs 435Bn Extended to Businesses in Temporary Economic Facility
According to official reports, more than 628 businesses have gotten preferential bank loans totaling Rs. 435.7 billion under the TERF- Temporary Economic Refinance Facility, which expired on March 31, 2021. These loans are for starting new businesses as well as expanding existing ones that have their ongoing production lines in the country.
However, immediately following the coronavirus pandemic outbreak in Pakistan the previous year, SBP initiated a programme in March of 2020 for a year.
According to Governor Reza Baqir of the SBP, Pakistani companies obtained the loans through TERF at a markup rate of roughly 3 to 5 percent. Nonetheless, this policy has made it easier to invest in machinery, along with other equipment and manufacturing facilities, for new industrialization.
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