RAWALPINDI: Punjab Chief Minister Maryam Nawaz has decided to introduce a ‘Karobar Card’ scheme to promote small businesses in the province. Under the scheme, loans will have to be repaid over 5 years.
According to Private Media Report, a meeting chaired by the Punjab Chief Minister agreed on the ‘Chief Minister Easy Business Financing Scheme’ for medium-sized businesses.
A proposal has been made to provide loans of up to Rs 30 million under the Chief Minister Easy Business Financing Scheme. Under the ‘Karobar Card Scheme’, loans of Rs 1 to 1 million will be provided, which will have to be repaid over 5 years.
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Chief Minister Maryam Nawaz has sought a comprehensive plan for the Small and Medium Loan Scheme, while an in-principle decision has been made to provide interest-free loans for small and medium-sized businesses to promote commercial activities.
Maryam Nawaz said that after receiving the first installment of the loan, a grace period of 3 months will also be given, and under the Chief Minister Easy Business Financing Scheme, loans will have to be repaid over 5 years.
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She said that ‘Karobar Card’ scheme will not be able to be used for payment in 10 areas, including restaurants, while preferential loans will be available for IT startups in Nawaz Sharif IT City.
The Punjab Chief Minister further stated that employment opportunities will be increased by promoting trade and industry in Punjab.
