Punjab Minister for Industries and Commerce Chaudhry Shafay Hussain has announced on Friday that the provincial government will launch a Rs300 billion easy loan scheme in October.
The scheme will aim to support businesses and promote industrial growth across the province.
Punjab interest-free loan scheme
During the discussion, Khawaja Yasir Qayyum informed the minister that around 100 industrial units are currently operating in the Sargodha Small Industrial Estate. He urged the government to further improve the area’s industrial infrastructure.
In response, Chaudhry Shafay Hussain said the Punjab government would begin a major infrastructure upgrade programme this year for 23 Small Industrial Estates across the province at a cost of billions of rupees. He said Sargodha would also benefit from the initiative.
The minister also announced that the government, in collaboration with the Bank of Punjab, would introduce a Rs300 billion easy loan scheme in October.
Under the programme, businesses will be able to obtain interest-free loans of up to Rs100 million. While larger loans worth billions of rupees will be available at a very low markup.
He assured the industrialists and traders that the provincial government would stand by them if they faced unnecessary harassment from any public or private institution.
Read more: Punjab announces programme for graduates with Rs150,000 monthly stipend
During the meeting, the Sargodha Chamber president also informed the minister that the chamber would organise Mango Festivals in Spain and South Africa next month. This will be done to promote Pakistani mangoes in international markets.
The announcement was made during a meeting with a high-level delegation from the Sargodha Chamber of Commerce and Industry at the Punjab Small Industries Corporation (PSIC) House in Lahore.
The meeting discussed challenges facing industries in Sargodha. Especially those that are faced by the Small Industrial Estate.
The delegation was led by Sargodha Chamber President Khawaja Yasir Qayyum and Managing Director of the Punjab Small Industries Corporation (PSIC), Mubeen Elahi. Punjab Board of Investment and Trade (PBIT) Director, Dr Imran Hashmi, also attended the meeting.
