The Punjab government has announced a groundbreaking initiative to support small and medium enterprises (SMEs) by providing interest-free loans. Chief Minister Maryam Nawaz unveiled the program, emphasizing its potential to boost employment opportunities and foster economic growth across the province.

Under the new Business Card Initiative, medium-sized businesses will be eligible for interest-free loans of up to Rs. 1 million. For larger enterprises, loans of up to Rs. 30 million will be offered through the Easy Business Financing Scheme. Both programs aim to empower entrepreneurs and promote sustainable business development.

The loans will have a repayment period of up to five years, with a three-month grace period before the first installment is due. To further encourage business expansion, the government plans to establish dedicated zones for small and medium industries in major cities across Punjab.

However, the Business Card Initiative will exclude certain sectors, such as restaurants. On the other hand, IT startups based in the Nawaz Sharif IT City will benefit from preferential loan terms, reflecting the government’s commitment to fostering innovation in the technology sector.