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The Punjab cabinet, chaired by the Chief Minister on Tuesday, approved the ‘Asaan Karobar Finance Scheme’, a significant initiative aimed at fostering economic growth and supporting small and medium enterprises (SMEs) in the province.
Information Minister Azma Bukhari, addressing the media, confirmed that the cabinet has approved the scheme, which will provide interest-free loans of up to Rs30 million. The scheme, worth millions, will assist entrepreneurs across various sectors, including agriculture, with a focus on job creation, export growth, and overall economic development.
The application process for the scheme will be launched soon.
The cabinet also approved the Hindu Marriage Act, a law regulating marriage procedures for Hindus in Punjab. Furthermore, to improve road safety, the cabinet established a province-wide speed limit of 60 km/h for motorcycles, aiming to reduce accidents and fatalities on Punjab’s roads.
Meanwhile, the federal cabinet, chaired by Prime Minister Shehbaz Sharif, approved revised agreements with 14 Independent Power Producers (IPPs) during its Tuesday meeting, paving the way for a potential reduction in electricity prices by up to Rs11.
