The State Bank of Pakistan (SBP) has deferred Rs6.5 trillion repayments of loans up to one year under the refinancing scheme for protecting businesses from the impact of Covid-19, reported 24NewsHD TV channel on Tuesday.

According to the SBP, by the end of January 2021 it had received more than 17,07,000 applications for loans deferment. Of them, the Bank approved 16,47,890 applications, rescheduling over Rs2.28 trillion loans.

The SBP also allowed restructuring or rescheduling of around Rs225.5 billion loans so far. The number of borrowers that would benefit from this rescheduling relief has risen to 1,631,257 with an outstanding amount of Rs2.528 billion, it said.

Under its Rozgar scheme for protecting businesses and employees working with them from the impact of Covid-19, the central bank has so far approved Rs238.2 billion for 2,958 businesses.

In addition, the State Bank, under this refinancing scheme for hospitals to combat Covid-19, approved financing of Rs9.07 billion for 42 hospitals so far. As many as 46 hospitals had requested for financing amounting to Rs13.8 billion.