CM Usman Buzdar approves Rs30 bn Punjab Employment Scheme

LAHORE: Chief Minister Sardar Usman Buzdar has approved launching of Punjab Employment Scheme worth more than Rs30 billion to provide soft loans on easy terms in the province. Presiding over a meeting here Tuesday, he said that the scheme was aimed at developing small and medium enterprises and restoration of corona-affected businesses in the province.

Under the scheme, soft loan up to Rs10 million would be provided for existing business or launch of the new venture. Transgender community along with men and women were eligible to apply; the rate of mark-up for women was kept less, he added.

Usman Buzdar ordered for launching the scheme in the current month as businesses had been affected due to the pandemic and the government was going to provide a major relief to them.

He ordered for further reducing the mark-up rate along with the processing of applications in the minimum possible time period. Special initiatives should be included in the scheme to boost the rural economy, the chief minister added.

The provision of soft loans facility would boost the industrial sector, he added. Earlier, the chief minister was briefed about the salient features of the scheme and was informed that an online portal had also been created in collaboration with the Punjab Information Technology Board (PITB) for the purpose.