• Legacy
  • Academy
  • Business
  • PayTech
  • Ignite
  • Cellcos
  • Wired
  • CovidTech
  • Library
  • Touch Base
Subscribe
CW Pakistan

Computerworld Pakistan

CW Pakistan
  • Legacy
  • Academy
  • Business
  • PayTech
  • Ignite
  • Cellcos
  • Wired
  • CovidTech
  • Library
  • Touch Base
  • Business
  • CIO
  • Computerworld
  • Technology

The State Bank of Pakistan is planning to implement a no-collateral loan scheme.

  • April 15, 2022
  • Sub Editor
Total
0
Shares
0
0
0

Dr Reza Baqir, Governor of the State Bank of Pakistan (SBP), stated Pakistan’s central bank is preparing to start a scheme to lend up to Rs10 million to cottage industry entrepreneurs without requiring collateral.


The government would protect banks against losses, Baqir informed senior members of the Lahore Chamber of Commerce and Industry (LCCI), and banks will be asked to submit expressions of interest to be involved in the programme.

 

According to the governor of the central bank, the end-user rate for small businesses and cottage industries will be 9% under the programme, compared to 24% under the current system.


“Foreign exchange laws have been modified and made more business-friendly to promote the growth of the information technology sector, particularly startups,” Baqir said, adding that relaxing the limitations will promote foreign funding in the IT sector.


He claimed that banks have been entrusted with the role of addressing payment concerns for IT firms.

“IT companies can now buy web and digital services from other countries for up to $200,000 without needing State Bank clearance. This limit was previously set at $10,000,” he explained.


Continue reading at this link: The Prime Minister launches a Rs100 billion fund for youth start-ups.


Several programmes, including principal loan modification, the Temporary Economic Refinance Facility (TERF), and a refinance programme for salary payment, were launched by the SBP to support businesses during the Covid-19 outbreak, according to the governor.

He emphasised that small borrowers accounted for more than 90% of those who benefited from the primary debt restructuring scheme. “Over Rs600 billion in loans have been restructured,” he revealed. “Overall, the central bank provided more than Rs2 trillion in relief to the business community through various schemes to assist the economy in regaining its footing,” Baqir said, adding that the government’s prudent policies prevented the debt-to-GDP ratio from rising during the pandemic, whereas it did so in developed economies.

 

Source: ceotimes.pk

 

Total
0
Shares
Share 0
Tweet 0
Pin it 0
Related Topics
  • IT sector
  • Prime Minister
  • start-ups
Sub Editor

Previous Article
  • Business
  • Computerworld
  • Partnerships
  • Technology

Graana.com and UBL Sign a Memorandum of Understanding to Promote Home Financing on Easy Terms

  • April 15, 2022
  • Sub Editor
View Post
Next Article
  • Business
  • Computerworld
  • Technology

Malware warning! The Pakistani IT board has issued a warning to customers about a phoney Netflix software.

  • April 15, 2022
  • Sub Editor
View Post
You May Also Like
View Post
  • Technology
  • Wired

Pakistan’s Viper Technology P40 Laptop Here To Compete With Other Intel 10th Gen Notebooks

  • Sub Editor
  • April 15, 2022
View Post
  • Computerworld
  • DEMO PAKISTAN
  • Ignite
  • Technology

To protect sensitive data, Ehsaas creates an IT Policies Vault.

  • Sub Editor
  • April 15, 2022
View Post
  • Computerworld
  • DEMO PAKISTAN
  • Ignite
  • Technology
  • Uncategorized

With an upcoming programme, Pakistan hopes to break into the $90 billion gaming market

  • Sub Editor
  • April 15, 2022
View Post
  • CIO
  • Computerworld
  • DEMO PAKISTAN
  • Ignite
  • Partnerships
  • Technology
  • Uncategorized

Trademor Selected as Alibaba.com’s First Pakistani Service Partner to Serve US Suppliers

  • Sub Editor
  • April 15, 2022
View Post
  • Computerworld
  • DEMO PAKISTAN
  • Ignite
  • News
  • Technology
  • Uncategorized

Tomorrow, the Cabinet will vote on the National Cyber Security Policy 2021.

  • Sub Editor
  • April 15, 2022
View Post
  • CIO
  • Computerworld
  • DEMO PAKISTAN
  • Ignite

The PTA is working on a licencing framework for IoT services on land.

  • Sub Editor
  • April 15, 2022
View Post
  • Computerworld
  • DEMO PAKISTAN
  • Ignite

The President’s House is now completely solar-powered.

  • Sub Editor
  • April 15, 2022
View Post
  • Computerworld
  • DEMO PAKISTAN
  • Ignite
  • Technology

The State Bank of Singapore has proposed a framework for e-commerce exporters.

  • Sub Editor
  • April 15, 2022

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

about
About
Launched in 1967 internationally Computerworld is the oldest tech magazine/ media property in the world. Today Computerworld (abbreviated as CW) is an ongoing decades old professional publication which in 2014 "went digital. In Pakistan Computerworld was launched in 1995.
Read more
Explore Computerworld Sites Globally
  • ComputerWorld.es
  • computerworld.com.pt
  • computerworldmexico.com.mx
  • cw.no
  • computerwoche.de
  • computerwelt.at
  • computersweden.idg.se
  • computerworld.hu
  • cwi.it
  • project.nikkeibp.co.jp
Content from other IDG brands
  • PCWorld
  • Macworld
  • Infoworld
  • TechHive
  • GameStar
  • Network world
CW Pakistan
  • CW MEDIA
  • CXO MEDIA
  • CHEZ WALLET
  • Demo
CW Media & all its sub brands are copyrighted to SPIN-IDG Wakhan Media Inc., the publishing arm of NCC-RP Group. Site is designed by Crunch Collective ©️ 2022

Input your search keywords and press Enter.