Interest-free business loans offered

Chief Minister Maryam Nawaz Sharif has launched the Punjab Asaan Karobar finance and card schemes to promote business activities in the province.

Addressing the inauguration ceremony, she said, “Under the Asaan Karobar Finance Scheme, interest-free loans of Rs1 million to Rs30 million will be provided.” The loan will be repaid in easy installments.

Loans worth Rs500,000 to Rs1 million will be given through the Asaan Karobar Card. Those who wish to benefit from the schemes can apply online and obtain information in this regard through helpline number 1786. The chief minister said the Punjab government had launched revolutionary schemes to promote small and medium businesses in the province. “These schemes hold the potential to change the destiny of Punjab and Pakistan. Small and medium enterprise businesses are the mainstay of the economy. The CM Punjab Asaan Karobar Finance and Asaan Karobar Card are the first and unique schemes of the Punjab government,” she said. She added, “Earlier, it was not easy to launch a business. Now we have made it easier through these schemes.”

The chief minister said land would also be provided at highly subsidised rates to start small businesses.

She said the finance scheme was the first programme in the history of the province under which interest-free loans of up to Rs30 million would be given.

“There is no need to immediately get any NOC, licence or plan approved to obtain a loan. Get a loan today and start your business tomorrow. These interest-free loans will be given through the Bank of Punjab,” she said.

The CM added, “In order to enhance the country’s exports, more incentives will be given to set up industries in export processing zones.”

She said solar systems worth Rs5 million would also be given free of charge to those aspiring to establish industries in the export processing zones.

She said the schemes would pave the path for SMEs leading to prosperity in Punjab. “The young entrepreneurs will be able to benefit from these schemes and expand their businesses so that they can play their proactive role in the economic development.” she said.