LAHORE: The Punjab government has approved financial assistance of up to Rs10 million for people looking to start new businesses, while existing businesses can receive loans of up to Rs5 million for expansion.
The decision was taken during the 137th board meeting of the Punjab Small Industries Corporation, chaired by Provincial Industries Minister Chaudhry Shafay Hussain.
The board also approved Rs500 million in interest-free loans to financially empower women investors and artisans. Under the scheme, women will be eligible for loans ranging from Rs500,000 to Rs10 million.
Another Rs500 million revolving fund was approved to promote small and medium-sized businesses. The fund will provide up to Rs10 million for new businesses and Rs5 million for expansion of existing businesses.
The meeting also reviewed progress on new small industrial estates across Punjab and approved the establishment of a modern industrial park in Gujranwala.
