Punjab CM Maryam makes history with record breaking business loans

LAHORE: Chief Minister of Punjab, Maryam Nawaz Sharif, has broken all kinds of records this year by disbursing more than Rs. 61 billion in business loans to more than 107,000 people in just three months through the Chief Minister’s Easy Business Finance and Easy Business Card Schemes.

Official figures revealed that the last 90 days saw 57,913 new businesses start in Punjab. These businesses received Rs. 23.91 billion in loans to start. Women entrepreneurs in Punjab have also made a major impact.

For the previous 90 days, 6,753 women entrepreneurs used Rs. 3.42 billion in loans to establish and run their businesses. The majority of the loan disbursement has been centered in the southern regions of Punjab, including Multan, Dera Ghazi Khan, and Bahawalpur.

CM Maryam Nawaz has contended with officials to work on all pending requests quickly. She also noted that the Easy Business Card can now be verified through WhatsApp to facilitate easy access to entrepreneurs.

An operational plan for financing loans in the export and manufacturing sectors is being finalized. In a recent top-level meeting, with CM included, officials at Pakistan Small Industries Corporation (PSIC) and partner banks were instructed by CM Maryam Nawaz to keep the ball rolling for both Easy Business Finance and Easy Business Card schemes without any interruptions.

Under CM Maryam Nawaz’s Easy Business Finance Scheme, 3,010 people received loans totalling Rs 18 billion. Under the Easy Business Card Scheme, 104,133 people obtained loans totalling Rs 43 billion.

The authorities engaged in processing over 1.38 million applications under the Card Scheme, lots of which were later approved. Among the top sectors attracting funding were service providers, with 61,996 contributors to the scheme receiving Rs 26.13 billion.

For trading, 24,522 contributors received Rs. 10.75 billion, and 10,699 applicants in small-scale agricultural businesses received Rs. 3.69 billion.

Transportation businesses also thrived, with 1,312 entrepreneurs receiving Rs. 3.91 billion and 175 from just the trading and distribution sector obtaining loans totalling Rs 3.94 billion.

Interest also extends to professional services, agriculture, dairy, food, beauty, automotive, fertilisers, and pesticides. This flagship financial inclusion agenda encapsulates Maryam Nawaz Sharif’s ongoing support to foster entrepreneurship and self-reliance development in all corners of Punjab.