LAHORE, Dec 14: District nazim Mian Amer Mahmood on Wednesday asked the representatives of banks and financial institutions to finalize their plans for advancing soft loans to people related to kite flying business within three days.

He was addressing a meeting of representatives of banks and financial institutions at Jinnah Hall here. The nazim said soft loans were to be advanced to the people related to kite flying business in accordance with the directions of the Supreme Court which had imposed a ban on the sport.

Mian Amer said rate of markup on loans should be low and these should be advanced on personal guarantee. He was told that Askari Bank was already advancing loans up to Rs500,000 on personal guarantee payable in one to five years. No security was required for the loans.

He said the Small and Medium Enterprise Development Authority would also be consulted on proposals for providing alternative means of livelihood to the people engaged in production and sale of kites and thread.

He directed the EDO (community development) to arrange training of people engaged in the trade in other vocations. The meeting was attended by the representatives of National Bank, Habib Bank, United Bank, Bank of Punjab, Askari Bank, Union Bank and Small Industries Bank.