LAHORE: The Punjab Small Industries Corporation (PSIC) Board Meeting on Wednesday approved the terms and condition of the Punjab Rozgar Scheme.

Punjab Minister for Industries and Trade Mian Aslam Iqbal presided over the Board meeting that also approved honoraria of Rs.15,000 per meeting for the private member of the Board. This revolutionary scheme will be launched during the current month. The process fee of the application will be charged Rs.2000/- and the time period for sanctioning loan by the bank will not be more than 20 days. The tenure period of loan will be from two to five years including a six months grace period.

Addressing the meeting, the Minister said that Punjab Rozgar Scheme would boost economic and business activities in the province.

He said the graduates of universities and technical institutions, artesian and skilled workers will take benefit from this scheme. This scheme will be helpful to overcome the problems of unemployment and poverty, he added.

Mian Aslam Iqbal said that an online portal has also been created with the help of Punjab Information Technology Board. The soft loan scheme will be transparent and loans will be provided on merit.

Copyright Business Recorder, 2020