PSIC Approves Rs 500m Interest-free Loan Scheme for Women Entrepreneurs and Artisans
Punjab Small Industries Corporation (PSIC) Board, in its 137th meeting here on Tuesday, approved an interest-free loan scheme worth Rs 500 million for women entrepreneurs and artisans.
Provincial Minister for Industries and Commerce Chaudhry Shafay Hussain chaired the meeting, which reviewed progress on establishing new Small Industrial Estates in various districts and expanding existing ones.
Key decisions include:
- Approval of a Rs 500 million interest-free loan scheme for women artisans and entrepreneurs, offering loans from Rs 500,000 to Rs 10 million.
- Establishment of an Industrial Park in Gujranwala and approval for a Rs 500 million revolving fund to promote Small and Medium-sized Enterprises (SMEs), providing interest-free loans up to Rs 10 million for new businesses and Rs 5 million for existing businesses looking to expand.
- Schedule for the auction of redundant properties belonging to Punjab Small Industries Corporation.
A relief package was approved for allottees of cancelled plots at Sundar Industrial Estate-II, offering a 20% relief on total outstanding dues provided construction begins within six months and production starts within two years.
The board also:
- Approved the auction of the Handicrafts Development Centre, Murree.
- Signed off on the purchase of an alternative site for a state-of-the-art handicrafts shop in Murree.
- Approved pension reforms for PSIC employees, introducing two new schemes with government support amounting to Rs 2.5 billion.
The board ratified previous meeting minutes and approved various administrative and financial matters.
Provincial Minister Chaudhry Shafay Hussain highlighted the establishment of new Small Industrial Estates in response to industry needs and the government’s commitment to accelerating industrialization for creating job opportunities, aligning with Chief Minister Punjab Maryam Nawaz Sharif’s vision.
