PSIC allocated Rs 4051mn soft-term loan

LAHORE: Punjab Small Industries Corporation (PSIC) disbursed Rs 4051.462 million as soft term loans to 19,470 people till June last.

Managing Director PSIC Farhan Aziz Khawaja told APP here Monday, that through these loaning 68,100 direct and 137,627 indirect employment opportunities were created across the province.

He said the accumulative recovery rate is 90 percent. During 2010-11 PSIC disbursed loans amounting to Rs 81 million to 828 projects at Sunder schemes, "Customized lending programme for promotion of handlooms and craft based textiles, customized lending programme for furniture cluster at Chiniot and credit assistance scheme for installation of 200 mechanical tandoor plants," he added.

He said that an amount of Rs 312.00 million had been recovered from the loanees.

PSIC regional office, Lahore recovered an amount of Rs 69.301 million, Gujranwala Rs 35.124 million, Rawalpindi Rs 50.240 million, Faisalabad Rs 63.731 million, Sargodha Rs 25.690 million, Multan Rs 29.122 million, Bahawalpur Rs 21.599 million, DG Khan Rs 17.212 million and Regional Office Sahiwal recovered Rs 10.369 million.

The recovery rate of Regional Office, Bahawalpur remained 85 percent against the target fixed that is highest amongst the other Regions, he added.

Copyright APP (Associated Press of Pakistan), 2011