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 heldat the Chief Minister`s Office here on Thursday.

Under the Easy Business Finance, interest-free loans ranging from Rs1 million 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 (SMEs) and have the potential to transform the economic landscape of Punjab,` the CM said and emphasised the importance of small and medium-sized businesses in driving economic growth.

`These are the first-of-theirkind 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 loantoday and start your business tomorrow,` she said.

The loans will be provided through the Bank of Punjab.

To boost exports, additional incentives would be offered to those establishing industries in exportprocessingzones, she said and added that entrepreneurs setting up businesses in these zones would also receive free solar systems worth up to Rs500,000.

`Young entrepreneurs can benefit from these initiatives, expand their businesses, and contribute to economic progress,` she said and added that for more information, individuals can contact the helpline at 1786.