Punjab Small Industries Corporation Board has approved a new financing scheme for women entrepreneurs and artisans. The scheme has a total allocation of Rs500 million.
The decision was made during the board’s 137th meeting. Punjab Industries and Commerce Minister Chaudhry Shafay Hussain chaired the meeting.
Officials discussed a 14-point agenda covering business financing, industrial development, infrastructure, and administrative matters.
Under the new scheme, eligible women can receive Interest-Free Loans ranging from Rs500,000 to Rs10 million.
The initiative is designed to support women entrepreneurs and artisans seeking financing for their business activities.
Interest-Free Loans for Women Entrepreneurs
The Rs500 million scheme will provide financing without interest to eligible women in Punjab.
Women artisans and entrepreneurs can receive loans starting from Rs500,000. The maximum financing available under the programme will be Rs10 million.
The board also approved another Rs500 million revolving fund for small and medium-sized enterprises.
New businesses can receive Interest-Free Loans of up to Rs10 million through this fund. Existing businesses can receive financing of up to Rs5 million for expansion.
The measures are part of the provincial government’s efforts to encourage business activity and industrial growth.
New Small Industrial Estates Planned
The board also reviewed plans for new Small Industrial Estates across Punjab.
Proposed locations include Hafizabad, Sahiwal, Toba Tek Singh, Sargodha, Khanewal, Okara, and Kot Pindi Das.
Officials informed the meeting that land has already been identified for these proposed estates.
The board also reviewed the expansion of Sundar Industrial Estate. It approved plans to establish an industrial park in Gujranwala.
Relief Approved for Sundar Industrial Estate-II
A relief package was approved for allottees of cancelled plots at Sundar Industrial Estate-II.
Eligible allottees will receive a 20 percent reduction in their total outstanding dues.
However, certain conditions will apply under the package.
Allottees must begin factory construction within six months. They will also be required to start production within two years under the policy.
The board approved a schedule to auction redundant properties owned by PSIC.
It also approved the auction of the Handicrafts Development Centre in Murree.
An alternative location will be purchased for a modern handicrafts shop in the hill station.
Punjab Plans Industrial Infrastructure Upgrades
Chaudhry Shafay Hussain said new industrial estates were being developed according to industry requirements. He said the government aims to accelerate industrialisation and create more employment opportunities.
A major infrastructure improvement programme for Punjab’s 23 Small Industrial Estates is also planned this year. The programme will improve roads, sewerage systems, and drainage infrastructure within these industrial estates.
The minister also highlighted the Chief Minister’s Asaan Karobar Finance Scheme. He said the programme was contributing to economic activity across Punjab.
PSIC is also introducing new Interest-Free Loans to support business growth and strengthen small enterprises.
The board also approved pension reforms for PSIC employees. Two new schemes will be introduced under these reforms.
The government will provide a Rs2.5 billion loan for this purpose.
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Officials said additional institutional resources would also be used to expand business and industrial activity across Punjab.
