Gilgit (C. R Akbar Shah): The Department of Information Technology Gilgit-Baltistan (G-B) has formally inaugurated the phase II of its soft loan scheme for IT startups.
The loan scheme is aimed at bringing innovation in the IT sector of Gilgit-Baltistan by providing financial assistance to individuals associated with IT sector.
The selection of eligible loan recipients will be based on a rigorous evaluation process. The loan scheme’s main goal is to bridge local skills with global opportunities, thereby encouraging the growth of tech startups and contributing to the economic advancement of the Gilgit-Baltistan.
The launch of the Soft Loan Scheme Phase II follows the successful completion of the inaugural phase of the loan scheme, which was introduced in collaboration with the Karakoram Cooperative Bank Limited G-B last year. Under this partnership, several technology firms of Gilgit-Baltistan with robust business models secured soft loans between Rs. 1 million to Rs. 3 million.
The second phase of the scheme also places a particular emphasis on empowering local youth, especially those affiliated with the tech industry in Gilgit-Baltistan.
Speaking at the inauguration ceremony of Soft Loan Scheme Phase II, the Secretary of Information Technology Zameer Abbas expressed the government’s unwavering commitment to promoting technological expertise and businesses in the region.
He highlighted the administration’s efforts to modernize the IT sector in line with international standards and emphasized promotion of the IT industry as a transformative force for the area’s economic progress.
Secretary Abbas pledged his support for the IT sector, affirming that the G-B government is committed to furnishing modern day resources to young individuals associated with the IT field with international exposure.
Expressing his optimism, he said the IT industry will play an important role in revolutionizing the region’s economy.
