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QUETTA, Jun 22 (APP):The Balochistan government has allocated Rs 2 billion as seed money for the Balochistan Enterprise Development Fund, which aims to provide interest-free loans to small and medium businesses for expansion of and new start-ups.
The provincial government is also framing the expenditure policy of this fund to achieve its objectives and deliver collective beneficial results to the society.
According to budget documents, the incumbent government has also released Rs 137 million during the current financial year 2023-24 for the necessary reconstruction of the Hub’s industrial and commercial estate.
In the upcoming financial year 2024-25, Rs 3.7 billion have been allocated as non-development budget which is an increase of 71.7 percent as compared to the current fiscal year budget 2023-24 allocation of Rs 2.1 billion.
During the next financial year 2024-25, Rs 418 million have been allocated under the development budget for the for the enhancement of this sector.
The development of industrial sector is a priority for the provincial government after the agricultural sector in the province.
The small and medium business sector related to the industry is the main source of the creation of employment opportunities.
The Balochistan government has included the boost of industrial activities in the province as one of its top priorities.
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