Punjab Asaan Karobar card
The Punjab government has initiated a landmark program focused on the growth and welfare of small-scale business owners. Spearheaded by Chief Minister Maryam Nawaz Sharif, the Punjab Asaan Karobar Scheme offers interest-free loans to small and medium-sized entrepreneurs. This initiative aims to enhance self-employment, reduce poverty, and support overall economic stability within the province.
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Overview of the Punjab Asaan Karobar Card Scheme
Key Financial Details
- Total Budget Allocation: Rs 75 billion
- Government Subsidy and Savings: Rs 22.25 billion
- Target Beneficiaries: 7,514 entrepreneurs
- Expected Credit Risk: Around 10% over the next few years
The scheme is designed not only to inject capital into the economy but also to recognize and prepare for potential financial risks, ensuring sustainable implementation.
Scheme Objectives
The main goals behind launching the Punjab Asaan Karobar Scheme are:
- To open up self-employment avenues for the youth
- To create a growth platform for small businesses
- To promote financial inclusion for women, minority groups, and individuals with disabilities
- To build a resilient local economy across Punjab
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Loan Structure and Terms
Loans are offered in two categories under the program:
Tier 1 Loans
- Loan Range: Rs 100,000 to Rs 500,000
- Processing Charges: Rs 5,000
- Loan Duration: 5 years
- Grace Period: 6 months for startups
Tier 2 Loans
- Loan Range: Rs 600,000 to Rs 3,000,000
- Processing Charges: Rs 10,000
- Loan Duration: 5 years
- Grace Period: 3 months for existing businesses
All financial assistance provided under this scheme is completely interest-free, with repayment spread over equal monthly installments.
Asaan Karobar Digital Card
A unique feature of this scheme is the Asaan Karobar Card, a digital credit card designed for business-related payments.
- Credit Limit: Up to Rs 1,000,000
- Credit Duration: 12 months, followed by a 24-month repayment period
- Cash Withdrawal Cap: 25% of the total limit
- Usage Restrictions: Only for business payments (e.g., bills, suppliers, taxes)
- Annual Fee: Applicable
- Misuse Policy: Card use for personal expenses will result in automatic deactivation
Eligibility Requirements
To apply for the Punjab Asaan Karobar Scheme, applicants must meet the following criteria:
- Age: Between 21 and 55 years
- Residency or business operations within Punjab
- Valid CNIC
- Registration with FBR or PRA for tax purposes
- Clean credit history (no defaults on prior loans)
- Only one application per individual is allowed
Application Process
- Visit the official portal of the scheme
- Register using your CNIC
- Complete the digital application form and upload all required documents
- Submit the processing fee
- Track the application status online or via SMS
- Upon approval, the loan amount or card will be issued
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Ensuring Transparency and Security
To safeguard the scheme’s financial integrity, the Punjab government has built in a 10% margin for potential credit loss. The aim is to maintain accountability and efficient recovery of loans so that a maximum number of citizens can benefit from this financial support.
Conclusion
The Punjab Asaan Karobar Scheme is a dynamic step toward promoting entrepreneurship and self-reliance in Pakistan. By allocating Rs 75 billion in interest-free loans, the initiative will empower thousands of youth, women, and small-scale entrepreneurs, laying the groundwork for a more inclusive and economically stable Punjab.