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Sialkot women entrepreneurs happy over getting loans

SIALKOT: The efforts for economic revival and empowerment of women are bearing fruits thanks to the Prime Minister’s Youth Business Loan Scheme. With the results of first balloting the successful applicants are in high spirits and are determined to contribute towards economic development of the country.

Talking to Business Recorder Ms. Rizwana Tariq, a woman entrepreneur from Sialkot said she got a loan of Rs 200,000, under PM’s YBL though First Women Bank Ltd. She is already running a stitching centre, on small scale; the loan amount will help her expand the work and her business, which will result in new employment opportunities, she said.

Praising the Prime Minister she said that never before in the country a scheme with such a transparency has been executed. The terms and conditions for loan are very simple and the staff at FWBL Sialkot is cooperative.

Ms Gulshan, who is running her beauty parlour in Sambrial, got a loan of Rs 500,000 and she was ecstatic. She plans to upscale the level of services she presently provides; inducting new workers and purchasing better equipment and accessories, with the loan granted.

She congratulated the Prime Minister for offering such a valuable scheme to the entrepreneurs whom the commercial banks don’t provide financial assistance.

She appreciated the cooperation extended by the staff of First Women Bank Limited (FWBL) Sialkot along with the role of SMEDA in disseminating and guiding the entrepreneurs to avail loans under the scheme.

She, however, had a reservation which she expressed saying that she had applied for a loan of Rs 1,000,000 and she prepared her business plan accordingly but to her surprise the loan amount approved was Rs 500,000. She might face difficulties in executing her business plan.

Meanwhile, SVP First Women Bank (FWBL) and In charge Sialkot for PMBLS, Ms. Sabiha Zafar, told that adequate arrangements have been made for providing assistance to the loan seeker women entrepreneurs.

Business Recorder