The Punjab government has approved a Rs. 500 million interest-free loan scheme to support women entrepreneurs, skilled workers, and small businesses across the province.
The approval was granted during the 137th meeting of the Punjab Small Industries Corporation (PSIC) Board, chaired by Provincial Minister for Industries and Commerce Chaudhry Shafay Hussain.
Under the scheme, women entrepreneurs and skilled workers will be eligible for interest-free loans ranging from Rs. 500,000 to Rs. 100 million. The financing will help women start new businesses or expand their existing ventures.
The PSIC Board also approved a Rs. 500 million revolving fund to promote small and medium-sized enterprises (SMEs).
Individuals planning to establish new businesses can receive interest-free financing of up to Rs. 100 million, while existing businesses seeking expansion will be eligible for loans of up to Rs. 50 million.
The initiative is aimed at improving access to affordable financing, encouraging entrepreneurship, and increasing women’s participation in business and self-employment.
The meeting also reviewed progress on new small industrial estates in Hafizabad, Sahiwal, Toba Tek Singh, Sargodha, Khanewal, and Okara. Officials informed the board that land has already been identified for the proposed estates.
The board approved the establishment of an industrial park in Gujranwala and reviewed plans to expand the Sundar Industrial Estate.
It also approved a schedule for auctioning surplus properties owned by the Punjab Small Industries Corporation.
The board approved the auction of the Handicrafts Development Centre in Murree and the purchase of an alternative site for a modern handicrafts shop.
Chaudhry Shafay Hussain said the Punjab government is establishing new small industrial estates across the province according to the requirements of industrialists and chambers of commerce.
He said the government is accelerating industrial development to create employment opportunities, while interest-free financing for women and SMEs is being introduced to encourage economic activity.
The minister also highlighted the Asaan Karobar Finance Scheme, saying it is contributing to the expansion of businesses and economic activity across Punjab.
