LAHORE, Punjab: The Punjab Small Industries Corporation (PSIC) Board has approved a Rs500 million interest-free loan scheme for women entrepreneurs and artisans, with financing ranging from Rs500,000 to Rs10 million.
Provincial Minister for Industries and Commerce Chaudhry Shafay Hussain chaired PSIC’s 137th board meeting on Tuesday, where members approved the scheme as part of a 14-point agenda.
The board also approved a separate Rs500 million revolving fund to promote small and medium-sized enterprises (SMEs). New businesses will qualify for interest-free financing of up to Rs10 million, while existing businesses can receive up to Rs5 million for expansion.
PSIC also approved the establishment of an Industrial Park in Gujranwala and reviewed plans for new Small Industrial Estates in Hafizabad, Sahiwal, Toba Tek Singh, Sargodha, Khanewal, Okara and Kot Pindi Das. Officials told the board that authorities had identified land for the proposed estates.
Read: Punjab Livestock Card Phase III Opens With Rs540,000 Loans
The board approved a relief package for allottees of cancelled plots at Sundar Industrial Estate-II, offering a 20% reduction on total outstanding dues. Under the policy, beneficiaries must begin factory construction within six months and start production within two years.
Members also approved a programme to improve roads, sewerage and drainage systems across Punjab’s 23 Small Industrial Estates.
Shafay Hussain said the Punjab government was expanding industrial infrastructure in response to business-sector demand and aimed to support employment and investment under Chief Minister Maryam Nawaz Sharif’s industrial development agenda.
The board also approved pension reforms for PSIC employees, including two new schemes to be financed through a Rs2.5 billion government loan.
