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Business & Finance

HBL to bear medical expenses for employees coronavirus treatment

  • As per the bank, all COVID-19 related medical expenses for self, spouse, and dependent children will be covered by the bank.
27 Jun 2020

Habib Bank Limited (HBL) has launched COVID-19 Medical Support for its Employees, under which the bank will bear all medical expenses of its employees that have contracted COVID-19.

As per the bank, all COVID-19 related medical expenses for self, spouse, and dependent children will be covered by the bank.

Furthermore, the bank informed that it is also introducing an interest free ‘Emergency Covid Hospitalization Loan’ for non-dependent close family members of its employees.

Back in April, the State Bank of Pakistan (SBP) introduced a temporary refinance scheme to incentivize businesses to not lay off their workers during COVID-19 Pandemic. This scheme is expected to ease cash flow constraints of the employers for timely payment of the wages and salaries to their workers and employees and thereby avoid layoffs in the face of economic challenges posed by the spread of COVID-19.

The borrowers availing this facility will undertake not to lay off their workers/employees at least during the three months from the date of first disbursement except in case of any disciplinary action. The financing banks/ DFIs will also obtain this undertaking in writing from the borrower while processing financing request.