Punjab CM extends Rs23.91bn business loans in three months

LAHORE: “For the first time in Punjab, loans worth Rs 23.91 billion have been issued to start a record number of 57913 new businesses in just 90 days,” noted Chief Minister Punjab Maryam Nawaz Sharif.

While chairing a special meeting for a detailed briefing on ‘Easy Business Finance and Easy Business Card’ schemes. She added, “For the first time, 6753 women have took loans worth Rs. 3.42 billion to run their own businesses,” She directed the authorities concerned to complete the process of pending applications for easy business finance and card loans as early as possible.

The Chief Minister directed the relevant authorities to make arrangements to activate easy business card through WhatsApp as well. She also sought a plan for the export and manufacturing sector loans. She said, “Easy Business Finance and Easy Business Card programs should not be stopped under any circumstances.”

Maryam Nawaz Sharif was apprised by MD PSIC Sara Umar about progress on Easy Business Scheme. She said, “3010 people got loans worth Rs. 18 billion under Chief Minister Easy Business Finance Scheme, while 104,000 people got loans worth Rs. 43 billion under Chief Minister Easy Business Card Scheme.”

She added, “Out of 74,579 applications for Chief Minister Easy Business Finance, 2505 have been approved, and loans have been received; whereas out of 12,029 applications for Chief Minister Easy Business Finance Tier II, 505 have been approved, and loans have been received.”

The CM was further apprised, “Out of 1380,838 applications for Chief Minister Easy Business Card Scheme, 104,133 have been approved.” She was briefed, “1312 people got loans worth Rs. 3.91 billion for transportation business

trading, whereas 175 people received loans worth Rs. 3.94 billion for distribution business.”

She was updated, “There is a trend of getting loans for professional services, agriculture, dairy, food, beautification, auto, fertilizer, pesticide, and other businesses. The largest number of people are providing services through Aasan Karuba card, 61,996 took loans worth Rs. 26.13 billion. 24,522 people received loans worth Rs. 10.75 billion for trading. and 10,699 people took loans worth Rs. 3.69 billion for agri-small business.”