Lahore: The Government of Punjab on Wednesday approved the modalities of the loans to be offered under the Punjab Rozgar Scheme for graduates, skilled youth, artisans, and businesses adversely affected by the recent anti-COVID-19 lockdown situation, according to news sources.
The modalities got a nod during the meeting of Punjab Small Industries Corporation (PSIC) Board of Directors (BOD) – held under the chairmanship of Minister for Industries and Trade Mian Aslam Iqbal. The BODs decided to launch the Punjab Rozgar Scheme in the ongoing month. The said loan scheme – under which soft loans of PKR 10 million will be provided to people, has already been approved by Punjab Chief Minister (CM) Sardar Usman Buzdar.
Furthermore, people who are looking to launch start-ups can also apply for these loans. An online portal, with assistance from the Punjab Board of Investment and Trade (PBIT), has also been established for transparent disbursement of loans amongst the applicants.
Moreover, PKR 2,000 will be charged for application processing – which will be executed in two days. The return period for these loans is fixed between two to five months, with an additional grace period of six months. The objective of this initiative is to bring down the provincial unemployment and poverty rate, and stimulate the economic activities.
Hazafa reveres the art of writing and has been turned into a property enthusiast by profession. Her daily survival kit includes; tea, coffee, keyboard and paperbacks.
