Projects Approved For SMEs Promotion: Mian Aslam

Punjab Minister for Industries and Trade Mian Aslam Iqbal Wednesday said that a comprehensive plan had been chalked out to revive cottage industry and projects worth billions of rupees to promote SMEs (Small and Medium Enterprises) had been approved, which would generate employment opportunities

LAHORE, (UrduPoint / Pakistan Point News - 17th Jul, 2019 ) :Punjab Minister for Industries and Trade Mian Aslam Iqbal Wednesday said that a comprehensive plan had been chalked out to revive cottage industry and projects worth billions of rupees to promote SMEs (Small and Medium Enterprises) had been approved, which would generate employment opportunities.

Talking to a businessmen delegation from SME sector here, the minister said that economic reforms and revolutionary programme of PTI government would bring far reaching results and through this programme lives of thousands of people living below poverty line would be changed.

He said that SMEs were a big source to alleviate poverty and unemployment problems that was why PTI government had framed special plan for bringing progress in this sector.

The minister said that more than 3000 SMEs would be developed with an estimated cost of Rs. 6 billion in next five years, adding that under this scheme, financial and technical assistance will be provided to those initiating new business and this scheme would ultimately be beneficial to bring industrial progress and increase national exports.

Similarly, through loan mark-up support programme, 8000 SMEs would be provided financial assistance worth Rs. 3 billion and would be assisted to stand on their feet, he said and added that credit Guarantee Scheme was another revolutionary scheme of PTI government for which Rs. 2.5 billion had been allocated under which 6000 SMEs would be provided assistance and guarantee would also be provided for obtaining loans through different banks.

He said that new industrial zones and SEZs would also be built across the province which would start a new era of industrial progress. "Making a prosperous, peaceful and developed new Pakistan is our goal and we will definitely achieve our destination under the dynamic leadership of Prime Minister Imran Khan," he vowed.