Govt to offer loans to youth for start-ups

Faisalabad: The government has allocated PKR 6 billion in a bid to provide loans to young entrepreneurs and start-ups – a news source reported.

Provincial Minister for Industries and Trade Mian Aslam Iqbal expressed his views on the matter. He was talking to businessmen and investors at the Faisalabad Chamber of Commerce and Industry (FCCI).

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The minister said that entrepreneurs and start-ups will get loans up to PKR 3 million. To facilitate this end, the government has allocated PKR 6 billion for the next five years.

Moreover, at least four technical universities are being established in the province. These institutes are being set up in Lahore, Mandi Bahauddin, Dera Ghazi Khan, and Rawalpindi.

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With regard to land acquisition for Allama Iqbal Industrial City in Faisalabad, funds worth PKR 4 billion have been approved. Minister Iqbal said that he intends to incorporate all NOCs under a one-window operation. He added that an industrial policy is also on the cards.