Punjab government has allocated Rs 1.2 billion for providing loan facilities to small and medium enterprises (SMEs) and other interested persons for setting up new industrial projects, upgrading and capacity building of existing industrial units in the Punjab. The government was making adequate efforts for arranging Rs 2 billion for enhancing the amount for extending maximum loan facilities to the SMEs.
Official sources told Business Recorder here on Thursday that the government was encouraging newcomers who were willing and keen in entering in industrial sector, and government would extend its full co-operation and assistance to prospective entrepreneurs in the Punjab province.
The government had already initiated a strategy for tracking 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.
All out efforts were being made to stimulate business community to start manufacturing of non-traditional products aimed at earning maximum foreign exchange through the export of non-traditional products to various countries of the globe.
Sources revealed that 200 different non-traditional products had been identified for the business community of the Punjab province, and business community would be motivated for starting the manufacturing of non-traditional products and fetch huge foreign exchange for the country.
The present regime was mobilising all means and resources for attracting the overseas Pakistanis and foreign investors to invest in different industrial projects.
The government had also developed 'Business-Friendly' atmosphere for accelerating the pace of industrialisation aimed at ensuring strong industrial-base. In order to attaining fruitful results, the government has also concentrated on encouraging the businesswomen and extending full support in the promotion of business, enabling them to play their instrumental role in strengthening the national economy, sources added.