Lahore: The Punjab government has announced its commitment to initiate a soft loan programme across the province — in order to ensure the growth of cottage industries, according to news sources.
This decision was announced after the Chief Minister (CM) Punjab Sardar Usman Buzdar held a meeting in his office and received a briefing about the loan programme. The CM shared his hope that this scheme will facilitate the growth of the industrial sector; particularly those sectors that are struggling to find the proper resources.
The meeting was informed that PKR 300 million has been allocated for the provision of soft loans to the cottage industry. Under this initiative, a loan of PKR 300,000 will be sanctioned, with a 3-year return period, and soft loan conditions. Moreover, a loan scheme worth PKR 6 billion will also be launched to facilitate small and medium-sized enterprises (SMEs).
In addition, CM Buzdar promised that this loan’s disbursement will be made in a transparent and speedy manner. He further directed the relevant authorities to submit its reports on the matter within the given timelines.
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