Lahore: The Punjab government on Thursday announced its decision to launch a scheme worth PKR 9.5 billion for the promotion of Small and Medium Enterprises (SME) sector, as well as to facilitate the revival of the cottage industry, a news source reported. This initiative was sanctioned during a meeting held to discuss the promotion of the SME sector, the revival of cottage industry and the implementation of several youth-empowerment programmes.
Punjab Industries and Trade Minister Mian Aslam Iqbal said that the provision of interest-free loans of up to PKR 6 billion had been approved for young entrepreneurs. He added that disbursement of these loans would begin this month. By way of this process, the hurdles faced while investing in a business or looking for loans have been removed, said the minister.
The minister emphasised on the need of such projects; stating that 60% of the province’s population consisted of a young demographic. ‘Empowering people from this sector of society can easily speed up the process of uplifting the country as a whole and change Pakistan’s destiny,’ he added.
