Lahore: Punjab Chief Minister (CM) Sardar Usman Buzdar on Wednesday approved the launch of a new loan scheme for the development of Small and Medium Enterprises (SMEs) in the province, a news source reported.
This decision was made during a meeting featuring members of the provincial government, that was chaired by the CM. The project is set to be launched by the Punjab Small Industries Corporation (PSIC), who will have the support of the Punjab Bank to initiate the loan scheme.
Under this project, individuals will have the facility to loan up to PKR 5 million for existing or new businesses. The loan scheme welcomes men, women, and transgenders to apply within the manufacturing, trading, and services categories.
CM Buzdar also approved a loan scheme for the cottage industry during the meeting. This project will allow people to receive soft loans from PKR 100,000 to PKR 300,000. He directed the officials concerned to finalise all the requirements as soon as possible in order to launch the loan schemes without delay.
Additionally, the meeting discussed the proposal to call the SME loan scheme ‘Punjab Rozgar’. The PSIC Managing Director (MD) also took the opportunity to brief the attendees about salient features of the project and update them on its progress.
