Punjab Rozgar Scheme worth Rs9.5b approved

LAHORE :The Punjab government Friday approved Punjab Rozgar Scheme at an estimated cost of Rs9.5 billion and allocated the amount to the Punjab Small Industries Corporation (PSIC) to chalk out employment opportunities for youths.

The objective of the programme is to reduce unemployment and drive economic stability by facilitating new micro and small entrepreneurs /startups and existing businesses in Punjab in terms of financial support during the current economic loss due to Covid-19.

In response to existing financial instability triggered by the Covid-19, the current emphasis of the Punjab government is to enable young entrepreneurs to establish and flourish their businesses in the backdrop of soaring un-employment and financial challenges.

The Punjab government considered it a paramount duty to steer the educated youths of the province in the right direction. The primary agenda of the aforesaid is to deal with ongoing crisis and create opportunities for youths that can lead them towards employment generation and economic development of the province.

Punjab Small Industries Corporation has been directed to sign an agreement with the Bank of Punjab for smooth execution of the scheme. In the scheme, the targeted population group includes the university and Tevta graduates with technical / vocational training, artisans and existing businesses.

Planning and Development Board Chairman Hamid Yaqoob Sheikh approved the amount in the PDWP meeting and remarked that Punjab Rozgar Scheme would be an encouraging initiative to promote new micro and small prospective entrepreneurs and existing businesses through financial support.