By Punjab’s government has launched a new scheme, “Easy Business Finance,” which provides interest-free loans of up to 3 million rupees to young entrepreneurs. The program aims to empower youth and promote small and medium-sized enterprises (SMEs).
However, experts question the effectiveness of such schemes, citing previous initiatives that failed to yield significant economic benefits.According to Dr. Salman Shah, a former finance minister, the success of such programs depends on their implementation and targeting.
He notes that previous schemes often lacked a clear strategy and were plagued by corruption. Shahid Mahmood, an economist, agrees, stating that these initiatives are often driven by political considerations rather than economic rationale. He believes that the new scheme will likely suffer the same fate as its predecessors.
Despite these concerns, some experts argue that the scheme can still have a positive impact. Dr. Hafiz Pasha, a renowned economist, notes that SMEs are critical to Pakistan’s economic growth, and providing them with access to finance can help stimulate entrepreneurship and job creation. However, he emphasizes that the scheme’s success will depend on its effective implementation and monitoring.
