According to Federal Minister for Industries and Production Khusro Bakhtiar, citizens can now get a loan of up to Rs10 million to start their enterprises under the government’s new policy.
On Wednesday, Khusro Bakhtiar spoke at a press conference in Islamabad alongside Federal Information Minister Fawad Chaudhary.
No-Objection Certificates (NOCs) are no longer required for entrepreneurs to launch their own business, according to Khusro.
He stated that a new SME (Small and Medium Enterprise) policy has been adopted by the federal cabinet. He also declared that when women entrepreneurs seek for loans, they will be spared from paying a 25% tax.
The minister also requested that the Sindh government join the project for the benefit of people seeking government assistance in starting businesses.
According to him, the federal government, in collaboration with commercial banks, has set aside Rs23 billion for such loans.
