Punjab Rozgar Scheme: Over 9,400 loan applications received, CM told

Chief Minister Punjab Usman Buzdar says his government's flagship project will prove to be a "game changer"

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Chief Minister Usman Buzdar oversees the signing ceremony between the Bank of Punjab and provincial small Industries Corporation. — Photo courtesy Punjab Government/Twitter 

The Punjab government has received more than 9,400 loan applications under the Punjab Rozgar Scheme, officials informed Chief Minister Punjab Usman Buzdar on Friday.

The chief minister was briefed during the signing ceremony of a Rs30 billion agreement reached between Punjab Small Industries Corporation and Bank of Punjab on the Punjab Rozgar Scheme. Under the agreement, Bank of Punjab will provide more than Rs30 billion under the scheme to successful applicants on easy terms.

While being given the details, Buzdar was told that out of 9,428 applications, the government has not received fees from 6,138 applications, while 3,035 applications have submitted their application fees.

The chief minister was also told that Punjab Small Industries Corporation has processed 1,619 applications.

Read more: Who is eligible for Punjab Rozgar Scheme 2020?

Speaking during the signing ceremony,the Punjab chief minister claimed that the scheme was the "largest in Punjab", adding that more than 1.6 million people will obtain gainful employment through it.

“Skilled youth benefiting from Punjab Rozgar Scheme will be able to provide employment to others,” said Buzdar. He added that the scheme will prove to be a "game changer" and called it the government’s flagship project.

The scheme was launched earlier this month by Buzdar to boost entrepreneurship and employment in the province.

Also read: How to apply for Punjab Rozgar Scheme 2020

Those applying for the scheme can obtain loans of up to Rs1 million if their businesses are located in Punjab.

The loan process has been made easy and the interested youths could submit their applications through PSIC portal, Punjab Bank website, or Punjab Rozgar App.