The Punjab Asaan Karobar Card offers an interest-free loan of up to Rs. 10 lakh to support small businesses and entrepreneurs in Punjab. Here are the key features and eligibility criteria:
Key Features:
Loan Amount: Up to Rs. 10 lakh (interest-free)
Repayment Term: 3 years with monthly installments
Grace Period: 3 months before starting repayments
Usage Options: Business-related activities, vendor payments, utility bills, government fees, and taxes
Withdrawal Limit: 50% of the loan amount can be used in the first six months, with the remaining 50% granted based on repayment history
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Eligibility Criteria:
Age Range: 21 to 57 years
Residency: Pakistani national residing in Punjab
Business Location: Existing or proposed business in Punjab
Credit Assessment: Satisfactory credit history and psychometric evaluation
Tax Registration: Mandatory registration with PRA or FBR within six months
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Application Process:
Pay Processing Fee: Rs. 500 via mobile banking or designated bank branches
Prepare Documents: Valid CNIC, business details, and FBR tax record
Complete Registration: Visit the Punjab government website or registration centers, fill out the application form, and submit required documents
Await Confirmation: Receive an SMS with application status
Additional Information:
The Asaan Karobar Card Scheme is part of the Punjab government's initiative to boost economic growth, support entrepreneurship, and reduce unemployment.
The scheme provides a revolving credit facility for 12 months, with equal monthly installments over 2 years.
An annual card fee of Rs. 25,000 + FED applies ³ ¹.
