Punjab launches Asan Karobar Scheme
Business
The scheme offers interest-free loans from Rs1 million to Rs30 million
LAHORE (Dunya News) – The Punjab government on Tuesday launched the biggest business finance scheme in the province.
A budget of over Rs84 billion has been allocated for the "Chief Minister Punjab Asan Karobar Scheme," while more than Rs48 billion has been earmarked for the "Chief Minister Punjab Asan Karobar Card Scheme."
Under the finance scheme, over Rs36 billion in interest-free loans will be provided. Loans ranging from Rs1 million to Rs30 million will be offered, repayable in easy installments over five years.
Residents of Punjab aged 25 to 55, including men, women, transgender individuals, and persons with disabilities, can apply for these loans.
Eligibility requires being an active tax filer and not being a defaulter of any financial institution. Applications and details for the finance scheme can be submitted online.
Under the scheme, interest-free loans of up to Rs1 million will be provided for startups and small businesses. These loans can be repaid in easy installments over three years. The Chief Minister Punjab Asan Karobar Card Scheme will facilitate vendor payments for purchasing raw materials.
Through the card, government fees, taxes, and utility bills can be paid, and up to 25% of the loan amount can be withdrawn as cash.
On the directives of Chief Minister Maryam Nawaz, a special toll-free number, 1786, has also been activated for the scheme.
