Loan limit for jobless people to be hiked

Minister says monitoring cell will oversee implementation of scheme


Our Correspondent July 02, 2020

LAHORE:

The Punjab Small Industries Corporation (PSIC) has decided to enhance increase the limit of interest-free loans for skilled persons under the Chief Minister Self-Employment Scheme.

Punjab Industries and Trade Minister Mian Aslam Iqbal chaired the 110th board meeting of the PSIC in which matters pertaining to progress on the Chief Minister Self-Employment Scheme, economic effects and attainment of targets came under comprehensive review.

The participants decided to increase the scope of CM Self-Employment Scheme under which the limit of interest-free loans to be disbursed to skilled persons for initiating their business will be enhanced.

It was also decided that the draft of a agreement with Akhuwat foundation will be prepared in the light of recommendations of the board sub-committee, PEPRA, law department and board members. Chief Minister Insaaf Employment Scheme will be launched in collaboration with Akhuwat. The board also granted approval for establishing small industrial estates in DG Khan, Sahiwal, Jhang and Mianwali.

The board also accorded approval for selling off redundant property of the PSIC in various areas. For the provision of electricity to the small industrial estates of Gujranwala and Wazirabad, approval for an agreement with GEPCO was also granted. The board also granted approval of some financial and administrative matters of the PSIC in the meeting.

The provincial minister, while addressing the participants in the meeting, said that under the CM Self Employment Scheme, unemployed and skilled youth were being given interest-free loans and 2.9 million individuals had received loans under the scheme. He disclosed that a monitoring cell will be set-up in the PSIC to oversee implementation on the scheme and also ordered setting up of an online dashboard. The minister also issued directions that capacity building and utility of PSIC should be enhanced by promoting latest technology.

Published in The Express Tribune, July 2nd, 2020.

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