Federal Minister for Planning Development and Special Initiatives Asad Umar chaired a meeting on Prime Minister Kamyab Jawan's (PMKJP) program to create franchises for utilities across Pakistan.
Present were Hammad Azhar, Minister of Industry, Muhammad Usman Dar, SAPM for Youth, MD Utility Stores and senior officials.
Dar announced at the meeting that about 250,000 applicants who have applied for loans under the PM Kamyab Jawan program are interested in opening stores. He said that PMKJP loans can be extended to already established franchises and also to establish new ones under the umbrella of Utility Stores Corporation.
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Planning Minister Asad Umar said that Phase II of Prime Minister Kamyab Jawan's program, in conjunction with the Ministry of Industry, will provide loans for the establishment of utility franchises.
He said that lending to such franchisees has the advantage of obtaining loans and that these companies would effectively play the role of market stabilizers. He further said that the existence of Enterprise Resource Planning (ERP) is a prerequisite for successful monitoring and operation of such companies.
Hammad Azhar said his ministry would review the proposed plan to lend to approximately 1,000 operating franchises under USC and also work on developing models for new business creation. He added that lending to franchisees will increase after the successful launch of a pilot project.
The meeting agreed to terminate the loans for such a program under the PM Kamyab Jawan program after all parties had discussed the proposal
