The Punjab government has decided to give easy loans to revive the business affected by COVID-19 pandemic and start a new business.
According to details, the Punjab government has formulated recommendations for rehabilitation of businesses affected by COVID-19 pandemic. Loans for affected businesses and new businesses will be provided under the Punjab Employment Scheme. Under this scheme, financial assistance has been provided for rehabilitation of businesses affected by COVID-19 pandemic. The limit of loans will be from Rs. 1 lakh to Rs. 50 lakh. The mechanism of loans will be decided and approval will be sought from the Cabinet.
It may be recalled that in order to stop the spread of Coronavirus and save the lives of the people, the Punjab government had imposed a lockdown in Lahore. And Section 144 had been imposed under which all business centers were closed. However, the pandemic continues unabated, with the business community facing severe hardships due to the closure of the business. The government has decided to provide easy loans to offset the deficit, which will enable the business to be reactivated.
On the other hand, the situation in Pakistan is serious due to COVID-19 pandemic, new records of Coronavirus deaths in Pakistan are being set on a daily basis, 136 deaths in just 24 hours, the virus has been confirmed in 5 thousand 839 more people. In 24 hours, Pakistan reported to be the second deadliest country in terms of COVID-19 pandemic cases and 15th overall.
Extracted from City42 News