The government of Punjab has decided to launch a loan scheme for the cottage industry of the province. Under the scheme, Rs300 million has been allocated for loans to the cottage industry. CM Usman Buzdar added that the scheme would help in reviving the cottage industry of the country and would promote the industrial sector.
Under the scheme, a loan of up to Rs300,000 would be given along with a period of three years and a three month grace time. The CM also said that a loan scheme worth Rs6 billion would be started for the SME sector as well. Under the scheme for SMEs, the government would give loans of up to Rs3 million. Moreover, under the loan-markup support program, the existing SMEs would also get loans on soft terms and Rs3 billion would be allocated for this scheme.
The CM further directed the authorities that the loan disbursement process should be transparent and speedy, at the same time. The meeting was attended by the Industries Minister Mian Aslam Iqbal, administrative secretaries, MD PSIC and other senior government officials.