The government of Pakistan has decided to set up a $75 million fund for entrepreneurs at the State Bank of Pakistan (SBP). Now the government doesn’t plan to just give it away rather it will be available for borrowing to people who are looking to start small businesses in the country.
Reportedly, the government will disburse this amount to microfinance banks and institutions which will then provide credit lines to entrepreneurs and small borrowers to set up their business in Pakistan.
Now the decision to set up this fund for entrepreneurs comes at an interesting time as the country is getting ready for the upcoming general elections. This fund for entrepreneurs seems like another such project that is launched by the ruling party to sway people into voting for them in future.
Last month, the Ministry of IT and Telecom allocated Rs. 124 million to promote startups that can develop applications to improve the lives of mentally or physically challenged in the country.
It is yet to be seen if the government will be able to build up a mechanism to finish up its project irrespective of the tide of the general election or it will be yet another story of indirectly bribing the influencers in the country.