Punjab Chief Minister Maryam Nawaz Sharif has instructed authorities to implement measures for providing interest-free loans to support commercial activities and small and medium-sized enterprises (SMEs) in the province.
She stated that “We aim to create more employment opportunities by promoting trade and industry in Punjab.”
CM Maryam has ordered the introduction of two new initiatives: the ‘Business Card’ scheme and the ‘Chief Minister Easy Business Financing’ program.
The ‘Business Card’ scheme will offer medium-sized business loans of up to Rs 1 million, while larger loans of up to Rs 3 crore will be available under the “Chief Minister Easy Business Financing Scheme.”
She emphasized the need for a detailed and comprehensive plan to distribute small and medium-sized loans under these programs.
Additionally, CM Maryam instructed officials to set up dedicated zones for small and medium-sized industries in major urban areas.
She mentioned that loans under the “Chief Minister Easy Business Financing Scheme” will have a repayment period of five years, with borrowers also receiving a three-month grace period following the first loan instalment.
The Chief Minister also reviewed a proposal to extend loans on a preferential basis to certain commercial sectors.
Furthermore, Maryam Nawaz clarified that the ‘Business Card’ will not be usable for payments in ten specific sectors, including restaurants. She added that IT startups in Nawaz Sharif IT City would have access to preferential loans as part of the initiative.
