LAHORE: Up to 6,138 applicants, of 9,428, have been rejected for not paying the `required fee’, who had applied for a loan under the Punjab Rozgar Scheme.

Each applicant was required to pay Rs2,000 application fee at any Bank of Punjab branch.

The Punjab Small Industries Corporation (PSIC) has processed just 1,619 applications out of the 3,035 applications that were submitted along-with fee.

This was informed to the chief minister at the Punjab Rozgar Scheme agreement signing ceremony at chief minister’s secretariat on Friday. Bank of Punjab president Zafar Masood and PSIC Managing Director Jamil Ahmed Jamil signed the agreement.

While an official on the condition of anonymity said poverty had reached such a dangerous level that over 65 percent of applicants to the much publicised soft loan scheme were not even able to deposit just Rs2,000 processing fee.

The chief minister, however, at the meeting said that over 1.6 million needy people would get jobs through this largest employment scheme worth Rs30 billion. He said loans from Rs100,000 to Rs10 million would be offered to 20 to 50 years old applicants at the very minimal interest rate. Small loans would be provided for 339 sub-sectors of 23 assorted sectors, including 26 sub-sectors of the textile industry. This scheme will promote the cottage industry.

Published in Dawn, October 24th, 2020