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LAHORE, Jul 18 (APP):Provincial Minister for Industries and Commerce Chaudhry Shafay Hussain chaired 131st meeting of the Board of Punjab Small Industries Corporation (PSIC) here at PSIC House on Friday.
The PSIC Board discussed a six-point agenda and reviewed progress on the implementation of decisions made in the previous board meeting.
The Board approved the Rs. 11.483 billion estimated budget of the Corporation for the fiscal year 2025–26. Approval was also granted for the implementation of ongoing and new schemes under the Annual Development Programme during the current fiscal year. Boards of Management for small industrial estates of Gujrat, Sialkot, Chakwal, Daska, and Sambarial were also approved. A report was presented regarding the implementation of the Chief Minister’s Assan Karobar Finance and Assan Karobar Card Schemes. It was informed that the recovery rate for Assan Karobar Card Scheme remained at 95 percent, while the recovery rate for the Assan Karobar Finance Scheme was 99 percent.
On this occasion, Provincial Minister Chaudhary Shafay Hussain said that the CM’s Asan Karobar Card and Assan Finance Scheme have played a significant role in promoting small and medium-scale businesses. These interest-free loan schemes have been successful in achieving the desired result and have benefited a large number of people.
Ch. Shafay Hussain emphasized that PSIC should improve the recovery of maintenance charges in small industrial estates. He further stressed that PSIC should introduce regular schemes which enhance the financial stability of the organization. He further instructed that the industrial infrastructure in small industrial estates be further improved.
PSIC Managing Director Ms. Saira Umar said that successful implementation and active monitoring of the interest-free loan schemes have made it possible to achieve the desired results. She added that the Corporation will introduce more loan schemes in the future.
Secretary Industries and Commerce, Muhammad Umar Masood, and other board members also attended the meeting.