800 people benefiting from easy loans: minister

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LAHORE: Punjab Minister for Industries and Trade Mian Aslam Iqbal said the Punjab Rozgaar Scheme has successfully completed one year in line with the Prime Minister’s vision to create new employment opportunities.

Under the Punjab Small Industries Corporation program, easy loans of over Rs 45 crore were distributed to 800 people in one year. One lakh 70,000 requests were registered in one year on the Punjab Rozgaar Scheme portal while the Punjab Small Industries Corporation received 19,000 loan requests. After processing, 9,000 requests were sent to the Bank of Punjab while the Punjab Bank accepted 1,000 requests, the minister said. He said easy loans of over Rs 30 billion would be disbursed in five years under the program. The program will provide employment for 1.6 million people and benefit more than 16,000 SMEs. He said the government decided to make the conditions easier and softer to speed up the program. Under the Punjab Rozgaar Scheme, the Punjab Small Industries Corporation alone will now issue loans of up to Rs 2 million. Aslam Iqbal said the Punjab Small Industries Corporation has decided to set up its own industrial development bank. A committee will look at all aspects and make a viable proposal for establishing a bank, he said and added that the government is also coming up with more programs to promote a sustainable economy.


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