LAHORE:The Punjab government Tuesday approved an interest-free loan scheme worth Rs500 million for women entrepreneurs and artisans. Under the scheme, women artisans and entrepreneurs will be eligible for interest-free loans ranging from Rs0.5 million to Rs10 million.
The approval was made in the 137th meeting of the board members of the Punjab Small Industries Corporation (PSIC), chaired by Provincial Minister for Industries and Commerce Chaudhry Shafay Hussain at the PSIC House. Overall, the meeting considered a 14-point agenda items.
The meeting reviewed progress on the establishment of new Small Industrial Estates in Hafizabad, Sahiwal, Toba Tek Singh, Sargodha, Khanewal, Okara and Kot Pindi Das, as well as the expansion of Sundar Industrial.
The board was informed that land had been identified for the establishment of the new Small Industrial Estates. The board also approved the establishment of an industrial park in Gujranwala.
The board also approved the establishment of a Rs500 million revolving fund for the promotion of small and medium-sized enterprises (SMEs). Under the fund, interest-free loans of up to Rs10 million will be provided for new businesses, while existing businesses will be eligible for loans of up to Rs5 million for expansion.
The board also approved a schedule for the auction of redundant properties of the PSIC.A relief package was approved for the allottees of cancelled plots at Sundar Industrial Estate-II. Under the package, allottees will receive a 20 percent relief on payment of their total outstanding dues. However, the allottees will be required to start construction of their factories within six months and bring their industrial units into production within two years, in accordance with the policy.
The board also approved the auction of the Handicrafts Development Centre, Murree, and the purchase of an alternative site for establishing a state-of-the-art handicrafts shop in Murree.
