Punjab Chief Minister Maryam Nawaz Sharif has said that promoting trade and industry in the province will enhance employment opportunities. Chairing a meeting on small and medium enterprises (SMEs) development in Punjab, here on Saturday, the CM directed the authorities to take measures for the grant of interest-free small and medium loans to promote commercial activities in the province. The CM ordered introducing ‘Business Card’ and ‘Chief Minister Easy business Financing’ schemes for the purpose. Under the ‘Business Card’ scheme, medium business loans ranging from Rs 1 to 10 lakh will be given, whereas relatively bigger loans of up to Rs 03 Crore (30 Million) will be provided under "Chief Minister Easy Business Financing Scheme.

She also sought a comprehensive plan for the award of small and medium loans under these schemes. The CM directed them to allocate separate zones for small and medium industries in big cities. She said loans will have to be repaid in 5 years under the "Chief Minister Easy Business Financing Scheme. A grace period of 3 months will also be given to the borrower after receiving the first loan instalment. She also reviewed a proposal to provide loans on preferential basis to selected commercial sectors. CM Maryam Nawaz informed that Business Card will not be used for payment in 10 areas including restaurants, saying that IT startups in Nawaz Sharif IT City will be able to get preferential loans.

Credit: Independent News Pakistan (INP)