Punjab Chief Minister Maryam Nawaz Sharif emphasized that fostering trade and industry in the province will lead to increased employment opportunities.
According to a report by Pak Observer on Sunday, during a meeting on the development of small and medium enterprises (SMEs) in Punjab, she instructed authorities to take steps to offer interest-free loans to promote commercial activities.
The CM announced the introduction of two schemes: the ‘Business Card’ and ‘Chief Minister Easy Business Financing’ programs. The ‘Business Card’ scheme will provide medium business loans ranging from Rs 1 to 10 lakh, while larger loans of up to Rs 3 Crore (30 Million) will be available under the ‘Chief Minister Easy Business Financing Scheme.’
She also requested a detailed plan for the distribution of small and medium loans under these programs. The CM further directed the allocation of separate zones for SMEs in major cities. Loans under the ‘Chief Minister Easy Business Financing Scheme’ will have a five-year repayment period, with a three-month grace period for borrowers after receiving the first loan installment.
Additionally, the CM reviewed a proposal to provide loans on a preferential basis to selected commercial sectors. Maryam Nawaz clarified that the Business Card will not be accepted in ten sectors, including restaurants, but IT startups in Nawaz Sharif IT City will benefit from preferential loans.
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