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JS Bank disburses Rs10.8bln

Business

July 9, 2020

KARACHI: JS Bank Private Limited leads the way in the central bank’s Rozgar Scheme, as it disbursed Rs10.8 billion to save jobs, amid coronavirus pandemic, a statement said on Wednesday.

The State Bank of Pakistan’s Rozgar Scheme was introduced to support employment and prevent workers’ layoffs, it added.

This is a substantial contribution on the part of the institution to ensure that various organisations, both large and small and medium enterprises, have enough capital to support their operations.

Under the scheme, a significant chunk of the impact that would otherwise fall on employees in different firms has been absorbed by the system, saving 1.1 million jobs across the country, it said.

“We stand with the nation in this hour of need and deem it as our responsibility to serve our people in these trying times. We will continue to work with the State Bank of Pakistan for the prosperity of Pakistan,” said Basir Shamsie, CEO of JS Bank. The coronavirus pandemic has threatened the health and economic prospects of the people across the country.