PSIC zoom session: FCCI pledges pivotal role to make Punjab Rozgar Scheme total success

FAISALABAD: Punjab Rozgar Scheme (PRS) launched with initial allocation of Rs30 billion will not only engage 1.6 million unemployed youth in productive pursuits but also much needed impetus to the national economy enabling it to face the global challenges, said Chaudhry Talat Mahmood Senior Vice President Faisalabad Chamber of Commerce & Industry (FCCI).

He was addressing a zoom awareness session about PRS arranged by the Punjab Small Industries Corporation (PSIC). He said that FCCI will play its pivotal role to make this scheme a total success in all respects. He also nominated Secretary General FCCI as focal person to remain in touch with PSIC and ensure close coordination between the two organizations. Chaudhry Talat Mahmood said that FCCI was ready to organize zoom and virtual meetings to give awareness about PRS to the target groups of this agro-industrial conglomerate.

Supporting virtual meetings, he said that these would help youth to get first hand information and clear their concept by discussing reservations with the concerned persons. Earlier officers of the PSIC explained in detail the salient features of the PRS and said that persons with age bracket of 20-50 years could avail from this scheme. He said that small loans from Rs.1 Lac to 10 Lacs could be disbursed just on two personal guarantees. “The profit rate on it will be only four percent”, he said and added that the Punjab government will bear the additional interest rate. As regards loans from 1 Million to 10 million, the rate of interest will be five percent.

He said that the Government will encourage youth to set up their own small and innovative production units instead of running after the jobs. He hoped that it will transform Punjab into a hub of SMEs which will contribute in a big way toward economic stability and prosperity. He said that initially the Punjab government has allocated Rs.30 billion but this amount could be increased on demand basis.

The meeting was also attended by Rana Muhammad Sikandar Azam Khan, Rana Ikramullah, Khalid Mahmood Shoq, Haji Muhammad Abid and Habib-Ur-Rehman Gill.—PR

Copyright Business Recorder, 2021