LAHORE: The Punjab government has offered interest-free financing of uptoRs5billiontoleather industry enterprises for modernising tanneries, adopting advanced technologies and boosting exports under its Sanati Taraqi & Export Programme (STEP).
The offer was made at a meeting held between the Livestock and Dairy De velopment Department and a delegation of the Pakistan Tanners Association (PTA), led by its chairman Malik Muhammad Azam, to explore private-sector investment and promote value addition in the province’s leather sector.
The delegation was briefed on financing facilities under STEP, a flagship initiative of the chief minister aimed at promoting industrial growth and export-led development through interest-free loans for new and expanding businesses.
The programme offers three financing tiers -Rs1 million to Rs100m for export financing,Rs100m to Rs1 billion for inclusive industrial growth, and Rsibn to Rs5bn for strategic and high-value projects.
PTA representatives expressed interest in using the facility to upgrade tannery infrastructure, install modern processing technologies, improve effluent treatment systems and meet environmental standardstoenhancethe international competitiveness of Pakistan’s leather industry.
It was agreed that the livestock department, in coordination with industries department and the Bank of Punjab, would facilitate PTA members in preparing and submitting applications under the programme.
Livestock Secretary Ahmad Aziz Tarar said the leather industry had considerable potential to strengthen Punjab’s export base and generate economic opportunities. He said the provincial government was committed to supporting the sector’s modernisation, technological advancement and sustainable growth.