A meeting was held on 11.06.2012 under the chairmanship of Chief Secretary Punjab regarding de-radicalization – long term rehabilitation programme of fourth schedulers. The objective was to explore avenues of funding for the fourth schedulers rehabilitation process in the light of de-radicalization strategy of Government of the Punjab. It was also decided that PSIC will prepare the concept paper of financial assistance scheme for long term rehabilitation programme of 4th schedulers.
A loaning scheme costing Rs. 500 Million to finance the purchase of CNG Auto Rickshaw for the public has approved by PDWP in its meeting held on 02-08-2006. This scheme was started at Lahore, Gujranwala, Faisalabad, Rawalpindi, Multan & Gujarat. The average estimated price of Rickshaws to cover under the scheme is Rs. 1.326 lac per unit. PSIC has planned to lease out 5000 Rickshaws till 30-06-2009 utilizing amount of Rs. 500 Million. The amount of Rickshaw is being subsidized by Department of Transport by paying Rs.20, 000/- per rickshaw. The total subsidy would be 100 Million which would become due from DOT against 5000 rickshaw under the scheme. PSIC would extend loan equal to 75% cost of Rickshaw @ 5.50% profit p.a (flat).
The scheme namely “Micro Finance for Household Enterprises” has been approved for ADP at a total cost of Rs.80.00 million with an allocation of Rs.60.00 million in ADP-2007 – 08. The Scheme is designed to provide Credit Assistance to the Household & Cottage Enterprises in the Province. It will also help in achieving the objectives of poverty alleviation through employment generation. Household Enterprise is basically a cottage industry but the inmates (owner or events) of the house who are living in it are also carrying out the manufacturing activity. The project “Micro Finance for Household Enterprises” will cater to the financial needs of the household enterprises spread all over the Punjab. The financial assistance shall be provided through PSIC existing infrastructure & manpower. PSIC has an experience of 20 years in addressing to the financial needs of household enterprises through craftsmen & craftswomen.
Handlooms & crafts based textiles are manufactured nearly all over Punjab e.g. Multan, located in Centre of the Punjab Province , is famous for manufacturing of textile products on handlooms such as Khadi cloth for dresses, bed covers, napkins, tapestry, block printing, tie & dye and natural dyes etc. Jhang is famous for manufacturing of textile products on handlooms such as woolen blankets, bed durries, khase etc. Bahawalpur is famous for craft based textile products such as embroidery, appliqué and patch work, flassi and D.G. Khan is famous for embroidery etc. Presently the people engaged in handlooms and crafts based textiles do not have easy access to upgrade the quality of their products in term of designing, quality control, production level and marketing due to non-availability of finances at the required time.
The administrative approval was issued by the Secretary Industries Government of the Punjab for “Customized Lending Programme for Promotion & Development of Handlooms” at total cost of Rs. 40.000 Million with an allocation of 20.00 Million for the year 2008-09 sponsored by Punjab Small Industries Corporation.
PSIC launched Rural Industries Loan Funds Scheme in 1983-84 to 1985-86 with the approval of PDWP in its meeting held on 29-10-1983. A sum of Rs. 190 lacs was approved to be provided through ADP Allocation. The scheme was to gear up industrialization in the Rural Area to stop exhaust of the Rural Population to the Urban Area by creating more and better job opportunities for the Rural Population nearer to their homes. It was decided that through this funds, credit facilities be provided to the prospective entrepreneur, desirous of making transaction from middle level agricultural / Trading Sector / Petty Village Artisans to industries by making use of the package of technical, managerial, advisory and financial in puts provided by the Punjab Small Industries Corporation.