Punjab CM distributed easy loans to more than 107,000 people in 3 months
Punjab Chief Minister Mam Nawaz distributed easy loans worth Rs61 billion to more than 107,000 people in just three months.
The loans were distributed under the ‘CM Punjab Asaan Karobar Finance’.
Chief Minister Mam Nawaz held a review meeting on Saturday where she was given a detailed update on a loan scheme by the Punjab Small Industries Corporation. The MD, Saira Omer, explained the progress made so far.
In just 90 days, nearly 58,000 new businesses were launched in Punjab with the help of this scheme. Loans worth Rs23.91 billion were given out to support these new startups.
Out of this amount, Rs3.42 billion were given to 6,753 women to help them start and run their own businesses, which was highlighted as a major step toward empowering women economically.
So far, 3,010 people have received loans totaling Rs18 billion. A total of 74,579 people applied for the loans, but in the first phase, 2,505 applications were approved.
Among the recipients, 1,312 people received loans of Rs3.91 billion specifically for transportation-related businesses. Loans were also issued for businesses in areas like agriculture, dairy, food, beauty, auto, fertilizers, pesticides, and other professional services.
CM Mam Nawaz directed the officials to speed up the loan approval process and made it clear that the scheme should continue to support people and improve their lives.
