Rs 70 billion interest-free loans under Punjab’s Asaan Karobar help 108,000 businesses

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Punjab’s Asaan Karobar Card Scheme sets new records in six months by distributing Rs 70 billion in interest-free loans, supporting over 108,000 businesses and boosting jobs across Punjab. Punjab’s Asaan Karobar Finance Scheme has emerged as a major success story in a remarkably short time.

Guided by the vision of Pakistan Muslim League (N) leader Muhammad Nawaz Sharif and driven by the leadership of Chief Minister Maryam Nawaz Sharif, the scheme has transformed access to easy financing for small and medium businesses across the province.

Interest-free loans through the Asaan Karobar Card Scheme

Within just six months, the Punjab government disbursed Rs 70 billion in interest-free loans through the Asaan Karobar Finance Scheme and the Asaan Karobar Card Scheme. As a result, 108,371 businesses received financial support, creating thousands of new employment opportunities and strengthening the local economy.

Strong Impact Across Sectors and Communities

During the first phase, 4,238 entrepreneurs received Rs 16.31 billion in interest-free financing. Importantly, the scheme focused on inclusion as well. 203 women entrepreneurs received Rs 1.82 billion, enabling them to launch or expand their businesses with confidence.

Sector-wise data highlights the broad reach of the Asaan Karobar Finance Scheme. The agriculture sector received Rs 40.3 billion, while Rs 33.8 billion went to trade. Transport businesses benefited from Rs 4.27 billion, and Rs 6.3 billion supported manufacturing and other sectors. Building on this success, the Punjab government plans to disburse an additional Rs 90 billion in the second phase.

New Schemes to Expand Business Growth

To further simplify doing business, the government launched four special Asaan Karobar schemes. These include separate programs for North, Central, and South Punjab, along with an Aasaan Karobar and Export Finance for SMEs Scheme. This export-focused initiative offers interest-free loans of up to Rs50 million, helping small businesses enter international markets.

Read more: https://www.pediastan.com/articles/punjab-parwaaz-card/

Asaan Karobar Card: Supporting Small Traders

Under the Aasaan Karobar Card Scheme, 104,131 cards have already been issued. By the use of these cards, Rs 44 billion in loans reached small shopkeepers, vendors, and home-based businesses, providing quick and hassle-free access to funds.

What is the Eligibility Criteria for Asaan Karobar loan scheme?

To apply, you must meet the following conditions:

1. Small entrepreneurs living in Punjab
2. Age between 21 and 57 years
3. Pakistani citizen with permanent residence in Punjab
4. Valid CNIC and a mobile number registered in your own name
5. An existing business or a plan to start a business in Punjab
6. Good credit record and a satisfactory psychometric assessment
7. Only one application allowed per person and per business
8. No overdue or defaulted loans

How to Apply Asaan Karobar loan scheme

1. Submit your application online through the PITB portal
2. Pay a non-refundable processing fee of PKR 500
3. Your CNIC, credit history, and business location will be digitally verified by authorized agencies

Vision for a Business-Friendly Punjab

Chief Minister Maryam Nawaz Sharif kept on emphasizing that the Aasaan Karobar Finance Scheme aims to build a business-friendly Punjab. Moreover, she also stated that when businesses grow, livelihoods become secure. It will empower small enterprises, leading to the strengthening of the urban economies. Furthermore, it will unlock Punjab’s vast economic potential.