Punjab CM Announces ‘Business Card Scheme’ to Promote Entrepreneurship

Lahore: Chief Minister of Punjab, Maryam Nawaz Sharif, has decided to introduce the “Business Card Scheme” as part of her revolutionary economic vision to promote small businesses in the province. This decision was made during a meeting chaired by the Chief Minister, where a comprehensive plan for a Small and Medium Loan Scheme was also discussed.
Under the new Business Card Scheme, loans ranging from Rs. 100,000 to Rs. 1,000,000 will be offered to entrepreneurs. Additionally, the Chief Minister’s Easy Business Financing Scheme will provide loans of up to Rs. 30 million to support medium-sized enterprises.
The government has also made an in-principle decision to offer interest-free loans for small and medium enterprises (SMEs) to boost commercial activities. As part of this initiative, special zones will be allocated in major cities for small and medium industries. Moreover, targeted loans will be given to selected commercial sectors on a priority basis.
A grace period of three months will be provided after the first installment of the loan. Under the Chief Minister’s Easy Business Financing Scheme, borrowers will have up to five years to repay the loan.
The Business Card scheme will not be applicable for payments in certain sectors, including restaurants, and will only be usable in specific business areas. Additionally, IT startups, particularly in the IT city, will be given preferential treatment for loan disbursement.
This initiative aims to foster a conducive environment for small businesses, create jobs, and accelerate economic growth in the province.