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LAHORE, Jan 03 (APP):Provincial Minister for Industries and Commerce, Chaudhry Shafay Hussain chaired the 3rd meeting of the Project Steering Committee of Chief Minister Punjab’s Asaan Karobar Finance Scheme here at PSIC House on Saturday.
During the meeting, progress on the second phase of the Chief Minister’s Asaan Karobar Finance Scheme was reviewed, and necessary measures were approved to further accelerate the pace of the scheme having key importance in promoting business activities.
It was decided that extensive awareness of the scheme would be given to businesspersons associated with the SMEs sector as well as chambers of commerce and industry.
The Managing Director of the Punjab Small Industries Corporation (PSIC) briefed the meeting on the progress of the second phase of the scheme and informed that so far Rs. 22 billion worth of loans have been approved, while Rs. 16 billion in interest-free loans have already been disbursed.
Provincial Minister Chaudhry Shafay Hussain said that due to the efforts of Chief Minister Maryam Nawaz Sharif, the Asaan Karobar Finance Scheme and the Asaan Karobar Card Scheme have made a new history of success. Through these two schemes, Rs. 70 billion in interest-free loans have been provided within a short span of six months, promoting 108,371 businesses across Punjab.
He further stated that the second phase of the Chief Minister’s Asaan Karobar Finance Scheme is currently underway, under which interest-free loans ranging from Rs. 30 million to Rs. 50 million are being provided through four special schemes. He said that the scheme is benefiting the SME sector, small traders, cottage industries, and vendors. Exporters are also availing benefits from this scheme to increase exports.
The Provincial Minister said that traders have expressed full confidence in the Chief Minister’s Asaan Karobar Finance Scheme and directed that a comprehensive awareness campaign be launched so that maximum number of people can benefit from it.
Secretary Industries Umar Masood, officials of the Bank of Punjab, and other relevant officers attended the meeting, while President Bank of Punjab Zafar Masud participated via video link.