Rs9.5b schemes to promote SME sector, says minister

LAHORE:Punjab Industries and Trade Minister Mian Aslam Iqbal has said Rs 9.5 billion schemes have been prepared relating to promotion of Small and Medium Enterprises (SME) sector and revival of cottage industry.

The minister was presiding over a meeting at Civil Secretariat in which matters pertaining to promotion of SME sector, revival of cottage industry and issuance of programmes for empowering the youth came under review. Secretary Industries and Trade, Additional Secretary, DG Industries and officers concerned participated in the meeting.

The minister said that programmes for the provision of interest-free loans amounting to Rs 6 billion has also been approved for enabling the skilled youth to launch their business and all these programmes will be initiated during current month. Sixty per cent population of Punjab consists of youth and by empowering them we will change the destiny of the country and nation, he added.

Naya Pakistan will usher with good news of progress and prosperity for people. The foundation of industrial progress revolution has been set with the establishment of new industrial zones and special economic zones. Aslam Iqbal said Punjab has become an attractive place for investment. Investment exceeding one billion dollar has been done in industrial zones of Faisalabad. Agreements for making new investment amounting to billions of dollars have been made with foreign investors, he stated. The obstacles confronting investment process have been removed and the whole process has also been eased up. We don’t believe in making tall claims rather in undertaking practical steps. The fruits of decisions of the government and steps taken for industrialisation will soon come to surface.