Lahore: In a historic move, Punjab Chief Minister Maryam Nawaz Sharif has revolutionized financial empowerment in the province by disbursing business loans worth Rs. 61 billion to more than 100,000 individuals within just three months. Chairing a special meeting to review the progress of the Easy Business Finance and Easy Business Card schemes, CM Sharif announced that a record-breaking 57,913 new businesses have been launched with loans totaling Rs. 23.91 billion.  

 

Highlighting the inclusion of women in economic development, she revealed that 6,753 female entrepreneurs have secured loans worth Rs. 3.42 billion to establish their own businesses—a first in Punjab’s history. The Chief Minister instructed authorities to expedite the approval process for pending loan applications, ensuring swift financial support for aspiring business owners.  

 

In a push for digital convenience, CM Sharif directed officials to integrate the Easy Business Card with WhatsApp for seamless accessibility. She also called for a specialized loan plan targeting the export and manufacturing sectors, emphasizing that the Easy Business Finance and Easy Business Card initiatives must continue without interruption under any circumstances.  

 

During the briefing, Managing Director of PSIC, Sara Umar, provided a detailed breakdown of the schemes’ impact. Under the Chief Minister Easy Business Finance Scheme, 3,010 individuals received loans worth Rs. 18 billion, while the Easy Business Card Scheme benefited 104,000 people with Rs. 43 billion in financial assistance. Further data revealed that out of 74,579 applications for the Easy Business Finance Scheme, 2,505 were approved, and 505 out of 12,029 applications were processed under Tier II. Additionally, 104,133 applicants were granted loans from a staggering 1.38 million applications for the Easy Business Card Scheme.  

 

The meeting also highlighted sector-specific loan distributions, with Rs. 3.91 billion allocated to 1,312 individuals in the transportation and trading sector, and Rs. 3.94 billion provided to 175 entrepreneurs in distribution businesses. The schemes have seen widespread uptake across various industries, including professional services, agriculture, dairy, food, beauty, automotive, fertilizers, and pesticides. Notably, 61,996 beneficiaries utilized the Aasan Karuba card, availing Rs. 26.13 billion in loans, while 24,522 traders received Rs. 10.75 billion, and 10,699 small-scale agricultural entrepreneurs secured Rs. 3.69 billion in funding.