The Punjab government has allocated Rs 1.2 billion to provide loan facilities to small and medium entrepreneurs and other interested persons for setting up new industrial projects, upgrading and capacity building of existing industrial units in the province. The government was striving for arranging Rs 2 billion to enhance the amount for loan facilities to the SMEs.
Official sources told Business Recorder here on Saturday here the government is encouraging those, who are keen to enter the industrial sector, adding it will extend its full co-operation and assistance to the newcomers in the province.
The government had already evolved an strategy to put the industrial sector on modern and scientific lines as well as to ensure maximum establishment of industries for reducing the unemployment graph in the province, they said, adding all out efforts were being made to stimulate the business community to start manufacturing non-traditional products aimed at earning maximum foreign exchange through their exports.
Sources said 200 different non-traditional items have been identified for the provincial businessmen who would be motivated to start manufacturing non-traditional products for export, adding the present regime is also mobilising resources to attract the Overseas Pakistanis and foreign investors to invest in different industrial projects in Punjab.
The provincial government had already developed 'business-friendly" atmosphere to accelerate the pace of industrialisation aimed at ensuring strong industrial-base, they said, adding to attain fruitful results, the government has also focussed on encouraging the businesswomen and extending full support for enabling them to play their instrumental role in strengthening the national economy.
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