Punjab Chief Minister Bhagwant Singh Mann on Sunday said that the state government is working untiringly for the well being of the weaker and underprivileged sections of the state and no stone is being left unturned for them.
Addressing the gathering during a function to hand over certificates of loan waiver to the beneficiaries here, the Chief Minister said that the state government is serving the people with missionary zeal to empower the common man. Bhagwant Singh Mann hoped that the state government is using its pen for helping the needy and underprivileged sections of society. He said that the state government is ensuring maximum welfare of the public so that every section of society is benefited from it.
The Chief Minister said that earlier the loans of the affluent people were waived off by the rulers and they didn’t bother about the welfare of poor people. Bhagwant Singh Mann said that for the first time in the history of the state this reprieve has been given to the underprivileged and weaker sections of the state. He said that this is because the budget of the state has been kept for welfare of the common man adding that the state government is spending every single penny of state exchequer is being spent on public welfare.
The Chief Minister unequivocally said that the state government is according top priority to the education sector as it is imperative for the well being of the weaker and underprivileged sections. He said that Education is key for the success of every individual and no stone will be left unturned to ensure quality education to every youth of the state. Bhagwant Singh Mann said that the state government has ample funds for strengthening and rejuvenating the education system in the state.
The Chief Minister quipped that such functions of public importance and happiness were rare during the last regimes. However, he said that a new era has ushered in now when new projects are being dedicated to the public by the government and youth are getting jobs. Bhagwant Singh Mann said that this is a glimpse of Rangla Punjab and the state government is now leaving no stone unturned for facilitating the people by organising such days of happiness.
The Chief Minister said that this loan waiver worth ₹67.84 crore has benefited around 4,800 families adding that this is Waiver of Loans Disbursed up to March 31, 2020, for loanees of the Punjab Scheduled Castes Land Development & Finance Corporation (PSCFC). He said that the waiver covers all loans disbursed by the PSCFC up to the mentioned date, offering significant relief to SC and Divyangjan (persons with disabilities) loanees. Bhagwant Singh Mann said that this move will benefit a total of 4,727 loanees for an aggregate amount of ₹67.84 crore and all loanees including 4,685 defaulting loanees and 42 regular loanees will be covered under this loan waiver scheme.
The Chief Minister said that "No Due Certificates” (NDCs) will be issued by the state government and the full amount of ₹67.84 crore comprising principal, interest, and penal interest calculated as of April 30, 2025 will be reimbursed to the PSCFC by the state government. He said that importantly, loanees who have previously availed benefits under earlier waiver schemes are also eligible for coverage under this initiative. Bhagwant Singh Mann said that no recovery proceedings will be initiated against loanees under PSCFC loan regulations post-waiver and their accounts will be considered fully settled as of the cut-off date.
The Chief Minister said that as per the 2011 Census, Scheduled Castes constitute 31.94% of Punjab’s total population and many members of this community have availed loans from PSCFC to establish self-employment ventures aimed at their economic upliftment. However, he said that some borrowers have been unable to repay their loans due to circumstances beyond their control, leading to defaults. Bhagwant Singh Mann said that with the implementation of this waiver, 4,727 poor SC and Divyangjan beneficiaries will receive relief amounting to ₹67.84 crore comprising Rs 30.02 crore in principal, ₹22.95 crore in interest, and ₹14.87 crore in penal interest (calculated up to April 30, 2025).
The Chief Minister said that this initiative will help restore their dignity and enable them to lead a more respectable life in society. Additionally, he said that the waiver will allow beneficiaries to utilize the freed-up financial resources for productive work to support their families adding that this is not just about loan waiver it’s about restoring dignity, delivering justice, and offering a new beginning. Bhagwant Singh Mann said that this marks the beginning of relief and dignity for thousands of families who have been burdened by debt for years.
The Chief Minister said that these families could not repay their loans due to circumstances such as the main earning member passing away, prolonged illness consuming all their savings or having no other source of income left. He said that recovering these loans from such people was unjust, so the state government has decided to waive them off. Bhagwant Singh Mann said that Aam Aadmi Party (AAP) government has once again proven that they don’t just make promises but they fulfil them as previous governments treated the SC community merely as a vote bank, the AAP government understands the pain of SC families and has always given them equality, rights, and respect.
On the occasion, Cabinet Ministers Harpal Singh Cheema, Dr. Baljit Kaur, Harbhajan Singh ETO, Lal Chand Kataruchak, Kuldeep Singh Dhaliwal and others were also present.
