LAHORE – Punjab Chief Minister Maryam Nawaz has decided to introduce the “Business Card Scheme” to promote small businesses in the province.
In a meeting chaired by the chief minister, it was agreed to implement the easy business financing scheme for medium-sized businesses. Under the scheme, loans ranging from Rs100,000 to Rs1 million will be provided.
The government aims at providing loans worth Rs30 million to the applicants. It has sought a comprehensive plan for small and medium-sized loan schemes.
The provincial government would provide interest-free loans for small and medium-sized businesses to those who wanted to engage in trade activities.
It was agreed to allocate separate zones for small and medium industries in major cities, and the proposal to provide loans to selected commercial sectors on a priority basis was also reviewed.
In this scheme, after issuing the first installment of the loan, a three-month grace period will also be granted to the applicant.
The applicant will have to repay the loan within five years. The business card cannot be used for payments in 10 areas, including restaurants.
Priority loans will be provided for IT startups in the IT City.
Chief Minister Maryam Nawaz stated that they will promote trade and industry in Punjab to increase employment opportunities.
