Cabinet has approved first SME policy, says Fawad Chaudhary

ISLAMABAD (92 News) – Federal Minister for Information and Broadcasting Fawad Chaudhary said that the federal cabinet had approved the first Small and Medium Enterprises (SME) policy.

Addressing a press conference along with Minister for Industries Khusro Bukhtiar on Wednesday, he said that the policy had absolved the new businessmen of NOC.

"The government will give the loan up to Rs10 million to small businessmen without any guarantee. We will allot lands to businessmen in industrial parks. The government will also share the loss in the business," he maintained.

The minister said that women will be exempted from tax up to 25 percent. "We cannot rely on imports like Dubai and Singapore."

Khusru Bakhtiar said that the government and bank will give the assurance in the wake of the loss. "Commercial banks will approve the business plan," he maintained.