Lahore: Chief Minister (CM) Punjab Sardar Usman Buzdar on Tuesday approved the launch of the Punjab Self-Employment Scheme worth over PKR 30 billion — with the initiative aimed at providing soft loans on easy terms to the residents of the province, according to news sources.
The CM approved the said scheme while presiding over a meeting to review various matters of the state. On the occasion, he said that the aforementioned scheme would also help in the restoration and development of Small and Medium Enterprises (SMEs), as well as the businesses adversely affected by the outbreak of the coronavirus pandemic and the subsequent lockdown implemented to control its spread.
Under the Punjab Self-Employment Scheme, soft loans of up to PKR 10 million will be offered for start-ups and existing businesses. In addition, CM Buzdar directed the officials concerned to launch the said scheme during the ongoing month in order to provide relief to the businesses suffering in the aftermath of the COVID-19 pandemic.
He further ordered the authorities concerned to ensure reduced mark-up rates for the said loans and to make certain that the applications submitted for the initiative were processed in a timely manner.
Earlier, the CM had been briefed about the project’s various features, and had been informed that an online portal had also been formulated in collaboration with the Punjab Information Technology Board (PITB) to boost the SMEs and facilitate the applicants.
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