PSIC approves CM Insaaf Employment Scheme

Provincial Industries and Trade Minister Aslam Iqbal has said that under CM Self Employment Scheme, unemployed and skilled youth are being disbursed interest-free loans and 29 lac persons have been distributed interest-free loans under this scheme.
He was chairing the 110th board meeting of PSIC in which matters pertaining to progress on Chief Minister Self-Employment Scheme, economic effects and attainment of targets came under comprehensive review.
It was decided during the meeting to increase the scope of CM Self-Employment Scheme under which the limit of interest-free loans to be disbursed to the skilled persons for initiating their business will be enhanced.
It was also decided that the draft of agreement with Akhuwat will be prepared in the light of recommendations of the Board sub-committee, PEPRA, Law Department and board members. Chief Minister Insaaf Employment Scheme will be launched in collaboration with Akhuwat.
The board also granted principal approval for establishing small industrial estates in DG Khan, Sahiwal, Jhang and Mianwali.
The board also accorded approval for selling off redundant property of PSIC lying in various areas. For the provision of electricity to the small industrial estates of Gujranwala and Wazirabad, approval for agreement with GEPCO was also granted.
The board also granted approval of some financial and administrative matters of PSIC in the meeting.
The minister said that under CM Self Employment Scheme, unemployed and skilled youth are being disbursed interest-free loans and 29 lac persons have been distributed interest-free loans under this scheme.
Aslam Iqbal disclosed that a monitoring cell will be set-up in PSIC to oversee implementation on the scheme and also directed to set-up online dashboard.
The minister also issued directions that capacity building and utility of PSIC should also be enhanced by promoting latest technology. The recommendations of board sub-committee with regard to CM Insaaf Employment Scheme were also accorded approval in the meeting.
MD PSIC Mudassar Malik, Board Members named Riaz Hameed Chaudhry, Amjad Naeem and other members attended the meeting in PSIC office while Secretary Industries and Trade Capt. (R) Zafar Iqbal along with other members attended the meeting via video link.