MULTAN: Punjab Small Industries Corporation (PSIC) Introduces low-interest loans for sustainable industrial development. Punjab Small Industries Corporation proposed integrating solar energy generation into the loan scheme to address soaring electricity tariffs,
In a recent seminar organized at the headquarters of the All Pakistan Bed Sheets and Upholstery Manufacturers Association, Punjab Small Industries Corporation (PSIC) unveiled an initiative aimed at fostering sustainable industrial growth through accessible financing. Supported by World Bank funding, the scheme offers low-interest loans of up to Rs.10 million with a nominal 2% markup over a five-year period.
Ms. Kashmala Aram and Mr. Farhan Raza, Assistant Directors at PSIC, alongside Mr. Yasir Abbas, Business Development Officer for Resource Efficiency and Cleaner Production, were present to elucidate the program’s objectives and benefits. The loans target various sectors prevalent in Punjab, including leather making, rice husking, steel re-rolling, furnace units, stone crushing, and textile sizing. The primary goal is to enhance resource efficiency and curtail pollution, thereby fostering environmentally friendly industrial practices.
Speaking at the seminar, Ms. Kashmala emphasized the importance of the scheme in bolstering Punjab’s industrial landscape. She encouraged interested parties to reach out to PSIC for application details, assuring direct disbursement of loans by the corporation. Additionally, Mr. Yasir Abbas underscored the availability of loans for solar power generation units, further aligning with sustainable energy practices.
Chairman Syed Muhammad Asim Shah of APBUMA lauded the initiative, hailing it as a timely intervention amidst economic challenges. He extended his gratitude to PSIC’s Regional Director, Ammar Manzoor, for their unwavering support in organizing the seminar. However, Shah also advocated for broader inclusivity in loan coverage, particularly emphasizing the need to extend support to the weaving sector within the textile industry. He stressed the sector’s pivotal role in Pakistan’s economy and proposed integrating solar energy generation into the loan scheme to address soaring electricity tariffs, thereby enhancing competitiveness and ensuring compliance with international standards. The initiative stands as a testament to PSIC’s commitment to sustainable industrial development, offering a beacon of hope for Pakistan’s e
