Punjab Minister for Industries and Trade Mian Aslam Iqbal said that Punjab Rozgar Scheme will boost economic and business activities in the province.
He said that under the scheme soft loan up to Rs10 million will be provided for existing business and launch of new ventures.
Soft loans will also be given on priority basis for the rehabilitation of Covid-19 affected businesses. He said graduates of Universities and technical institutions, artesian and skilled workers will take benefit from this scheme.
Punjab Minister for Industries and Trade Mian Aslam Iqbal was presiding over a meeting of Punjab Small Industries Corporation (PSIC) Board here at Committee Room of PSIC in which features, terms and conditions of Punjab Rozgar Scheme approved.
The board also approved honoraria amounting to Rs15,000 per meeting for the private member of the Board.
This revolutionary scheme will be launched during the current month.
The process fee of the application will be charged Rs2,000 and time period for sanctioning loan by the bank will not be more than 20-days. The tenure period of loan will be from two to five years including a six months grace period.
The minister said this scheme will be helpful to overcome the problems of unemployment and poverty.
Mian Aslam Iqbal said that an online portal has also been created with the help of Punjab Information Technology Board.
The soft loan scheme will be transparent and loans will be provided on merit. Secretary Industries Capt. (R) Zafar Iqbal MD PSIC Mudassar Riaz Malik and other board members attended the meeting.
