K-P launches package to promote SMEs
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The Khyber-Pakhtunkhwa (K-P) government has launched a special package for the development and promotion of small and medium enterprises (SMEs) in the province.
Work on providing interest-free loans to small and medium enterprises should be expedited so that the SMEs sector should be developed said Special Assistant to CM K-P on Industries Abdul Karim while presiding over a meeting at Peshawar regarding providing interest-free loans to the SME sector.
The meeting was attended by MD TEVTA, Bank of Khyber, Minerals Department and representative of Finance Department. Various issues related to the provision of interest-free loans were discussed and it was emphasized to ensure its provision as soon as possible.
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Finally, Karim informed the meeting that this scheme of Rs10 billion of the provincial government and State Bank of Pakistan (SBP) has already been approved by the provincial cabinet, which will provide interest-free loans of Rs1 million to 20 million to develop the SMEs sector and install new and modern machinery to make it exportable, the special assistant stressed that the provincial mineral sector should take full advantage of this project and bring it towards mechanized mining as in traditional methods in mining sector a large amount of marble is lost.
Modern machinery will increase the growth of industry.
Published in The Express Tribune, February 3rd, 2022.