The Punjab government has announced the launch of an interest free loan scheme for women business owners.
The move is expected to promote women’s economic empowerment and increase their participation in business activities across the province.
According to the Provincial Minister for Industries and Commerce, Chaudhry Shafay Hussain, an interest free loan scheme for women business owners will be launched within the next two months.
According to the details, the programme will be implemented by the Punjab Small Industries Corporation (PICS).
Punjab announces major scheme for women business owners
Under this scheme, women who have graduated from Women Business Incubation Centres will be eligible to apply for loans.
Skilled individuals and artisans will be able to benefit from this facility.
According to the details, each applicant will be provided with an interest free loan of up to Rs500,000 to start a new business or expand an existing business to new heights.
The provincial minister said that the primary objective of the programme is to increase women’s participation in business related avtivities and remove financial burdens.
Get interest free loans up to Rs5 lakh
Additionally, he particularly highlighted that women living in smaller cities face greater difficulties in accessing capital. Adding that this scheme will help reduce those challenges.
The Provincial Minister of Punjab for Industries, Commerce and Investment, Chaudhry Shafay Hussain, made the announcement during a meeting with a delegation of the Women Chamber of Commerce and Industry, Gujrat, held at PSIC House.
The meeting also included detailed discussions on improving economic chances for women in the region. Additionally, to address the challenges they may face.
Furthermore, the provincial minister also announced the establishment of a Business Facilitation Centre and a Women Business Incubation Centre in Gujrat.
Here, the women will be provided with technical and business training.
Special office space will also be allocated for the Women’s Chamber of Commerce Gujrat at these centres.
This is further expected to strengthen institutional support and guidance for women entrepreneurs.
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