The Karobar Card scheme, which offers loans ranging from Rs 1 lakh to Rs 10 lakh, was launched by the Punjab government to assist small enterprises. The scheme was announced during a meeting led by Chief Minister Maryam Nawaz Sharif. The Chief Minister Aasan Karobar Financing Scheme supports medium-sized businesses, offering loans ranging from Rs 1 lakh to Rs 30 lakh, repaid over five years. This article provides information on eligibility criteria and registration processes for small and medium-sized businesses in Punjab. It also explains how to complete the registration process step by step.
Benefits of Karobar Card Scheme
Financial Support Schemes for Small and Medium Businesses
• Offers interest-free loans from Rs. 1 lakh to Rs. 10 lakh.
• Provides loans up to Rs. 30 million (3 crores) for medium-sized businesses.
• Offers a 3-month grace period before repayment.
• Creates business zones in major cities for small and medium businesses.
• Prioritizes loans to key sectors, especially IT start-ups.
• Aims to generate new jobs and support economic growth.
• Provides a transparent loan distribution system.
• Promotes trade and industry in Punjab to strengthen the economy.
Eligibility Criteria
Punjab Government Scheme Eligibility Criteria
• Applicant must be a permanent resident of Punjab.
• Must have a valid Pakistani identity card.
• Age range: 18-45 years.
• No prior financial owed debt.
• No previous loan from other schemes.
• Must be sole owner of a small or medium business.
When does the Karobar Card Scheme registration time start?
The Karobar Card Scheme, launched by the Punjab government, is a program aimed at supporting small and medium-sized businesses in the province. The registration process is expected to begin in January 2025, with loan disbursement expected a month later.
The scheme, launched by the Chief Minister of Punjab, aims to boost business growth, create jobs, and encourage development in the province’s business and industrial sectors. The Punjab government has not yet made an official announcement about the registration process, but this article provides all the necessary information for those interested in taking advantage of the scheme.
Conclusion
The Karobar Card Scheme, a Punjab Government initiative, provides interest-free loans and flexible financing options to empower small and medium-sized businesses, addressing financial challenges and promoting economic growth. Focusing on key sectors like IT start-ups, it fosters innovation, job creation, and strengthens trade and industry in Punjab. Read More