LAHORE: They Punjab government has decided to issue ‘Business Card’ to provide interest-free small and medium loans to promote commercial activities in the province.

“We will increase employment opportunities by promoting trade and industry in Punjab,” said Chief Minister Maryam Nawaz while presiding over a meeting here on Saturday.

The chief minister directed the authorities concerned to take measures for the grant of interest-free small and medium loans to promote commercial activities in the province. “Introduce business card and easy business financing schemes for the purpose,” she said.

Under the proposed business card scheme, medium business loans ranging from Rs1m to Rs10m will be given, whereas relatively bigger loans up to Rs30m will be provided under ‘Easy Business Financing Scheme.’

She directed the relevant authorities to allocate separate zones for small and medium industries in big cities.

Loans will have to be repaid in five years under the scheme. A grace period of three months will also be given to the borrower after receiving the first loan installment. The business card will not be used for payment in 10 areas, including restaurants. IT startups in the Nawaz Sharif IT City will be able to get preferential loans.

Published in Dawn, December 8th, 2024