Punjab to launch youth loan scheme in April

Maximum limit of loans will be Rs3m; women will be given preference

Our Correspondent March 28, 2019
A file photo of Punjab Chief Minister Usman Buzdar.

LAHORE: The Pakistan Tehreek-e-Insaf (PTI) government will launch a youth business loan scheme in the first week of April under which skilled youth would be provided with short-term loans for starting their own business, announced Punjab Minister for Industries, Commerce and Investment Mian Aslam Iqbal.

Speaking at an IT-focused seminar arranged by the Punjab Board of Investment and Trade (PBIT) on Wednesday, the provincial minister revealed that maximum limit of such loans would be Rs3 million.

He pointed out that skilled young women would be given preference and the procedure for obtaining loans would be streamlined for them.

Iqbal reaffirmed that the government was focused on creating a business-friendly environment in the province. “Reforming our processes and procedures, creating employment opportunities and facilitating investors in all sectors of the economy are top priorities of this government,” he emphasised.

Talking about information technology, the provincial minister assured the audience that complete support would be provided for resolving the issues facing the IT and technology sector.

Stressing that the government understood the importance of technology and entrepreneurship, he said it was in the process of introducing regulatory and policy reforms for building confidence of domestic and foreign investors.

Other speakers and panelists highlighted the potential of technology and IT industry of Pakistan and shed light on its vital role in the development of any economy.

They noted that the sector played an instrumental role in developing the economies of Japan, South Korea, Thailand, China and Taiwan. 

Published in The Express Tribune, March 28th, 2019.

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