The Presidents/Chief Executives,
1. Refinance Scheme for Payment of Wages and Salaries to the Workers and Employees of Business Concerns
2. Islamic Refinance Scheme for Payment of Wages and Salaries to the Workers and Employees of Business Concerns
1. Please refer to IH&SMEFD Circular/Circular Letters on the captioned subject.
2. In order to facilitate businesses facing problems in availing financing under the above schemes from one bank due to their credit limits or for any other reason, it has been decided to allow them to avail financing from more than one bank. However, a business cannot avail financing for a specific month from more than one bank.
3. Further, businesses may avail financing under above schemes for early payment of wages/salaries for the month of July, 2020 before Eid-ul-Azha. Businesses may also avail reimbursement of wages/salaries of July, 2020 in case they make early disbursements from their own resources to their workers/employees due to Eid-ul-Azha.
4. Please acknowledge the receipt.