Good news for small businesses, the government has announced an easy finance scheme
30,000 new businesses will be given unsecured loans up to Rs 10 million. If there is a loss in business, 40% will be borne by the government and commercial banks. Press Conference of Federal Ministers Khusro Bakhtiar and Fawad Chaudhry
The Federal Government has announced a Small and Medium Entrepreneur Policy. Minister for Industries and Production Khusro Bakhtiar along with Federal Minister Fawad Chaudhry said on the SME policy that it has adopted a cohesive SME policy in the history of Pakistan. Under the policy, tax concessions will be given to the industry and guaranteed loans will also be given without easy conditions.
According to an estimate, more than 5 million small and medium enterprises in Pakistan. There are 35,000 large scale industries in the country.
Large scale only 5% of small and medium scale industries in Pakistan. Large scale employment opportunities There are medium-sized industries.
Small and medium enterprises faced big problems.
Due to which the business cost has increased. The Federal Minister further said that SMEs have been divided into three tiers.
In the first tier, many sectors do not require any NOC. We have done inspection without an inspector and now the inspection will not be like that. A portal has been created in this regard which will eliminate bribery.
Khusro Bakhtiar said that 30,000 new businesses will be given unsecured loans up to Rs. 10 million. If there is loss in business, 40% will be borne by the government and commercial banks. , Balochistan and Khyber Pakhtunkhwa.
SMEs will be contracted even within government contracts. 25% tax exemption will be given to women in MMEs sector. Rs. 30 billion fund allocated under SMEDA. The industry will get SME policy incentives up to Rs. 80 crore. Business plans will be provided by commercial banks. Commercial banks will provide loans up to Rs. 10 million at 9% interest rate.