LAHORE: Punjab Minister for Industry and Commerce Aslam Iqbal has said that the Punjab Employment Revolutionary Scheme will be launched this month, application processing fee of Rs 2,000 and loan approval in 20 days.
According to details, a meeting of Small Industries Corporation was held under the chairmanship of Punjab Minister for Industry and Commerce Aslam Iqbal in which the features and rules and regulations of Punjab Employment Scheme were approved while 15,000 honorarium was awarded for a private member to attend a meeting. Also approved.
The Punjab Minister for Industry and Commerce said that the Punjab Employment Revolutionary Scheme would be launched this month, the application processing fee would be Rs 2,000 and the loan would be sanctioned in 20 days while the repayment period would be 2 to 5 years while the grace period would be 6 months.
Aslam Iqbal said that a scheme is being introduced to increase economic and business activities, under which an easy loan of up to Rs. 10 million can be obtained.
Usman Bazdar said that loans would be provided to new entrepreneurs for existing businesses, loans up to Rs 10 million could be taken under the scheme and eunuchs would also be able to avail the loan scheme while the mark-up for women has been kept low.
The Punjab Chief Minister while instructing to launch the Punjab Employment Scheme in the twentieth month had said that businesses affected due to Corona are now giving relief.