LAHORE: The Punjab government has launched two loan schemes Easy Business Finance and Easy Business Card to promote business activities in the province.

Chief Minister Maryam Nawaz formally inaugurated both schemes during a ceremony held at the Chief Minister`s Office here on Thursday.

Under the Easy Business Finance, interest-free loans ranging from Rsim to Rs30m will be provided with repayment options available in the easiest instalments.

Through the Easy Business Card, loans of Rs500,000 to Rsim will be disbursed. Interested individuals can apply online from Thursday (Jan 16) to benefit from these plans.

`These schemes aim to promote small and medium-sized enterprises and have the potential to transform the economic landscape of Punjab,` the CM said.

`These are the first-of-their-kind and unique initiatives by the Punjab government. Starting a business used to be a daunting task, but we have simplified the process through these schemes. We will also provide land at highly concessional rates for small businesses,` she added.

The CM said for the first time in the province`s history, loans up to Rs30m were being offered with 100 per cent interest-free terms.

`Moreover, there is no immediate requirement for NOCs, licences, or map approvals to obtain the loan. Obtain a loan today and start your business tomorrow,` she said.

The loans will be provided through the Bank of Punjab. Staff Reporter