Punjab to Disburse Loans of Up to Rs. 5 Million for Reviving Business Activity

Punjab government has finalized the Punjab Rozgar Program for the deserving. Soft loans of Rs. 0.5 million to Rs. 1 million will be disbursed in the first phase of the program.

In the second phase, loans of up to Rs. 5 million will be allocated for disbursement.

The approval was given in a meeting chaired by Minister for Industries and Trade Mian Aslam Iqbal along with Minister for Finance Hashim Jawan Bakhat. Earlier, the final proposal for the scheme was submitted to the steering committee.

It was disclosed that the government is initiating a mega program of disbursing soft loans in collaboration with the Bank of Punjab for the revival of businesses affected by the pandemic and for helping launch new businesses.

The minister pointed out that Rs. 9 billion have been earmarked for this mega program in the current fiscal year.

Aslam Iqbal apprised that a transparent mechanism will be devised for the provision of soft loans. He stressed that these soft loans will be disbursed under a transparent system irrespective of any political affiliation.

He emphasized that economic activity will increase along with generating new employment opportunities with the provision of soft loans under this program.