The Punjab Small Industries Corporation (PSIC) Board has approved a Rs. 500 million interest-free loan scheme to support women entrepreneurs and artisans across the province.
The decision was taken during the 137th board meeting chaired by Punjab Industries and Commerce Minister Chaudhry Shafay Hussain. The meeting reviewed a 14-point agenda covering industrial development, financing and administrative matters.
Women To Receive Up To Rs. 10 Million
Under the new scheme, women artisans and entrepreneurs will be eligible for interest-free loans ranging from Rs. 500,000 to Rs. 10 million. The board also approved another Rs. 500 million revolving fund for small and medium-sized enterprises.
New businesses will be able to secure interest-free loans of up to Rs. 10 million, while existing businesses can receive up to Rs. 5 million for expansion. The measures aim to encourage entrepreneurship, expand business activity and create employment opportunities across Punjab.
The board also approved a 20% relief package for allottees of cancelled plots at Sundar Industrial Estate-II. However, beneficiaries must start factory construction within six months and begin production within two years.
New Industrial Estates Planned
Officials briefed the board on plans for new Small Industrial Estates in Hafizabad, Sahiwal, Toba Tek Singh, Sargodha, Khanewal, Okara and Kot Pindi Das. Land has already been identified for the proposed estates, while an industrial park was also approved for Gujranwala.
Chaudhry Shafay Hussain said the government was accelerating industrialisation to create employment and improve the investment environment. He added that a major programme would upgrade roads, sewerage and drainage systems across Punjab’s 23 Small Industrial Estates.
The board also approved pension reforms for PSIC employees, property auctions and other financial and administrative measures.
