Hoshiarpur- Punjab government has taken a historic decision to waive loans worth Rs 67.84 crore, giving great relief to the Scheduled Caste people. This decision was taken in the cabinet meeting chaired by Chief Minister Bhagwant Singh Mann, which will directly benefit about 4800 families.
This loan waiver will be applicable on loans given by Punjab Scheduled Caste Land Development and Finance Corporation (PSCFSC) till March 31, 2020. The government has clarified that the borrowers who have filed cases in the courts against Punjab Scheduled Caste Land Development and Finance Corporation (PSCFSC) will be eligible for this scheme only if they withdraw the case unconditionally and submit documentary evidence.
Regarding this decision, Chabbewal MLA Dr. Ishank thanked the Chief Minister and said that this is not just a loan waiver but a strong step towards restoring the honor and self-respect of the community. He said that the loans have been going on since 1995, many of the borrowers are not even debtors but their families are still trapped in the cycle of debt and interest.
Understanding the pain of these poor needy families, the government believed that it is unfair to recover the loan from them in such circumstances and that is why this decision of loan waiver was passed in the cabinet meeting. Dr. Ishank said that the AAP government has once again proved that it does not just make promises but also fulfills them.
In this loan too, every previous government had promised to waive it but only the Aam Aadmi Party government fulfilled it. He said that this decision is a historic step taken not only in the direction of economic but also social justice.