Punjab approves Rs500m loans for women, see who can apply
The Punjab Small Industries Corporation (PSIC) Board approved the scheme during its 137th meeting, chaired by Provincial Minister for Industries and Commerce Chaudhry Shafay Hussain.
The decision is aimed at helping women start or expand businesses without facing the additional cost of interest. The scheme could provide new opportunities for women working in business, handicrafts and other small industries.
How much can women borrow?
Under the approved scheme, women entrepreneurs and artisans will be eligible for interest-free loans ranging from Rs500,000 to Rs10 million.
The financing is expected to support women who want to establish new businesses or strengthen existing commercial activities. The move is also part of wider efforts to encourage small businesses and increase economic participation.
The board also approved a separate Rs500 million revolving fund for small and medium-sized enterprises (SMEs).
Under this fund, new businesses can receive interest-free loans of up to Rs10 million. Existing businesses seeking funds for expansion will be eligible for loans of up to Rs5 million.
These schemes are intended to make financing easier for entrepreneurs who may struggle to obtain affordable funding through conventional sources.
New industrial estates planned across Punjab
The PSIC Board also reviewed progress on new Small Industrial Estates in several districts.
Land has been identified for industrial estates in Hafizabad, Sahiwal, Toba Tek Singh, Sargodha, Khanewal, Okara and Kot Pindi Das.
The board also approved the establishment of an Industrial Park in Gujranwala. Officials said the projects are being planned according to the needs of the industrial sector and demands from local chambers of commerce.
The government expects the expansion of industrial infrastructure to support businesses and create additional employment opportunities across Punjab.
Relief for Sundar Industrial Estate allottees
The meeting also approved a relief package for allottees whose plots at Sundar Industrial Estate-II had been cancelled.
Under the approved package, eligible allottees will receive a 20 percent relief on their total outstanding dues.
However, the relief comes with conditions. Allottees will have to begin construction of their factories within six months and make their industrial units operational within two years.
The conditions are intended to ensure that industrial plots are used for productive activities rather than remaining unused.
More steps to support small businesses
The board approved the auction schedule for redundant properties owned by the Punjab Small Industries Corporation.
It also approved the auction of the Handicrafts Development Centre in Murree. An alternative site will be purchased to establish a modern handicrafts shop in the tourist city.
Officials said these measures are part of efforts to improve PSIC’s resources and expand economic activity across the province.
The meeting also approved pension reforms for PSIC employees. Under the reforms, two new schemes will be introduced for employees, with a Rs2.5 billion loan to be obtained from the provincial government.
Punjab focuses on industrial growth
Speaking at the meeting, Chaudhry Shafay Hussain said new Small Industrial Estates were being developed based on industrial demand and recommendations from chambers of commerce.
He said the government was speeding up industrialisation to create employment and improve opportunities for businesses.
According to the minister, the government is also working to create a more supportive environment for investment and small and medium-sized businesses in Punjab.
He said a major programme would be launched this year to improve infrastructure in Punjab’s 23 Small Industrial Estates.
The programme will focus on roads, sewerage and drainage systems. Better infrastructure is expected to make these industrial areas more suitable for businesses and investors.
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Asaan Karobar Finance Scheme also highlighted
The provincial minister said the Chief Minister’s Asaan Karobar Finance Scheme was also helping increase economic activity across Punjab.
He added that PSIC was introducing additional interest-free financing programmes to support businesses and entrepreneurs.
According to the minister, PSIC has also improved its institutional resources through new strategies and administrative measures.
The additional resources generated through these efforts will be used to expand business and industrial activities across the province.
Why the women’s loan scheme matters
The Rs500 million women’s loan scheme could allow many entrepreneurs to access business financing without paying interest.
For women planning to start a small business, the availability of financing can help cover expenses such as equipment, raw materials, business premises and other setup costs.
Existing women-owned businesses may also benefit if the financing helps them increase production or expand their operations.
The actual impact of the programme will depend on how applications are processed, who qualifies and how quickly the loans reach successful applicants.
