ISLAMABAD – Punjab opened doors to interest-free loans of up to Rs30 million under the Chief Minister’s Ease of Doing Business Scheme.
To boost small and medium enterprises, Provincial Minister for Industry and Trade, Chaudhry Shafay Hussain, chaired a high-level meeting at Pesk House to review the Punjab Small Industries Corporation’s (PSIC) ambitious development programs. The spotlight was on the second phase of the Chief Minister’s Ease of Doing Business Finance Scheme, which promises to reshape the SME sector across the province.
PSIC Managing Director Saira Umar revealed that more than thirty-two thousand applications have already been submitted in for the second phase, with 1,846 cases approved and Rs. 1.4 billion disbursed. Over 1,228 beneficiaries have received interest-free loans totaling more than Rs800 million, reflecting overwhelming demand and success of the program.
Chaudhry Shafay stressed that the Finance and Card schemes have been crucial in encouraging entrepreneurship. Under the second phase, loans ranging from Rs1 million to Rs. 30 million will be offered, while the Export Finance for SMEs scheme provides loans up to Rs. 50 million. A staggering Rs. 9 billion will be allocated in this phase alone.
The meeting also announced a major industrial infrastructure upgrade across 23 small industrial estates, with new estates being developed to meet rising demand. Authorities assured that projects will be executed transparently and with uncompromising quality.
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