LAHORE: Punjab Chief Minister Sardar Usman Buzdar has said that more than 1.6 million needy people will get jobs through Punjab Rozgar Scheme, which is the largest employment scheme worth Rs30 billion.
The chief minister said this while chairing the ceremony of signing an agreement of Punjab Rozgar Scheme here at his office on Friday.
The agreement was signed between the Punjab Small Industries Corporation (PSIC) and the Bank of Punjab. President of The Bank of Punjab Zafar Masood and MD Punjab Small Industries Corporation Jamil Ahmed Jamil signed the agreement. Provincial Ministers Hashim Jawan Bakht, Fayyazul Hassan Chohan, ACS (Local Govt), Secretary Finance and Secretary Information were also present.
Talking on the occasion, the chief minister stated that under the agreement, Punjab Bank will provide soft loans to successful applicants. This scheme will make the youth economically self-reliant and the owners of small and medium scale industries, as well as the traders facing financial crunch due to corona pandemic, will be able to develop their businesses, he added.
Giving the details, the CM said loans from Rs100,000 to Rs10 million will be offered to 20 to 50 years old applicants at the very minimal interest rate. Small loans will be provided for 339 sub-sectors of 23 assorted sectors, including 26 sub-sectors of the textile industry. This scheme will promote cottage industry, he added.
The government plans to transform individual skills as an investment and this scheme will prove a game-changer initiative in this regard, he further said.
The CM was briefed that 9,428 persons have applied for loans but the required fee is not deposited with 6,138 applications while 3,035 applications are submitted along with fee and PSIC has processed 1,619 applications so far.