The scheme SME 300 Million was approved in the PDWP meeting held on 19-01-2009 at a total cost of Rs. 300 Million. An amount of Rs. 300 Million was allocated by the Govt. for the sustained development of COTTAGE/MICRO INDUSTRIES/ARTISAN/CRAFTMEN-WOMEN AND HOUSEHOLD INCOME GENERARTING PROJECTS. Based upon allocation of Rs. 300 million PSIC designed a credit scheme for the target group to promote cottage & Micro Industrial Sector.
Planning & Development Department allocated an amount of Rs. 1000.000 Million in Development Programme 2008-09 for financing of SMEs under the Scheme at GS No.2561. In this regard the recommendation of working group constituted by Chief Secretary Punjab for preparation of comprehensive loaning plan by PSIC, other committee and task forces constituted by Chief Minister for this purposes were considered and PSIC proposed a prioritization and utilization plan for Rs.1000.000 Million. This plan which included the present scheme has been approved by the Chief Minister Punjab through a summary hence the scheme was prepared, which was approved. The administrative approval was issued by the Secretary Industries, Government of the Punjab.
The Punjab Small Industries Corporation (PSIC) has always been a pioneer in successfully catalyzing the development of crafts and handicrafts in the Punjab. Continuing in its tradition of being a change catalyst PSIC has now introduced its new Credit Assistance Scheme for Artisans-2002 (CASA-2002) with more emphasis on the Regional Crafts and development of women craftsperson.
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.
The Punjab Small Industries Corporation (PSIC) has always been a pioneer in successfully catalyzing the development of the Small Scale Industrial Sector in the Punjab. Continuing in its tradition of being a change catalyst PSIC has now introduced its new Credit Scheme for Small Industries 2002 (CSSI-2002) with more emphasis on the hitherto neglected, areas like agriculture, handicrafts, women enterprises and the service sector industries.