Punjab CM Launches Assan Karobar Finance Scheme 2025 – Apply Now

Punjab Chief Minister Maryam Nawaz Sharif has unveiled the Assan Karobar Finance Scheme, a groundbreaking initiative to uplift small and medium enterprises (SMEs) across the province. This program is expected to boost economic growth, generate employment opportunities, and strengthen various sectors, including agriculture. With financial assistance tailored to business needs, the scheme promises to modernize Punjab’s entrepreneurial landscape.

Below, we’ll delve into the scheme’s objectives, structure, benefits, and application process.

Introduction to the Assan Karobar Finance Scheme

The Assan Karobar Finance Scheme, approved by CM Maryam Nawaz Sharif, is a transformative step aimed at supporting SMEs in Punjab. It provides financial aid to entrepreneurs to start, expand, and modernize their businesses. Whether it’s upgrading equipment or leasing logistics, the scheme offers tailored solutions to address diverse business needs.

Aligned with the State Bank of Pakistan (SBP) regulations, the program demonstrates a commitment to sustainable economic development and job creation across the province.

Objectives of the Finance Scheme

The primary goals of the scheme include:

• Empowering entrepreneurs by providing financial assistance.
• Modernizing business infrastructure to enhance productivity.
• Creating job opportunities to address unemployment.
• Supporting industries like agriculture, manufacturing, and services.

With these objectives, the initiative is expected to be a game-changer for the provincial economy.

Structure of the Scheme

The Assan Karobar Finance Scheme is designed with two loan tiers to cater to diverse business requirements:

Tier-1 Loans

• Unsecured loans up to Rs5 million.
• Require only personal guarantees, making it accessible for small businesses.

Tier-2 Loans

• Secured loans ranging from Rs5 million to Rs30 million.
• Ideal for larger enterprises with more significant funding needs.

Repayment Terms:

• Loans can be repaid over five years.
• A grace period of six months for new businesses (Greenfield) and three months for existing businesses (Brownfield).

Eligibility Criteria:

• Applicants must be aged between 25 and 55 years.
• Should have a clean credit history.
• Must own or rent a valid business location.

Introduction of the Assan Karobar Card

The Punjab government has also introduced the Assan Karobar Card, which provides interest-free loans up to Rs1 million. This card ensures ease of financial transactions and transparency in fund utilization.

Features of the Assan Karobar Card:

• Supports digital transactions via mobile apps and point-of-sale systems.
• Offers a loan tenure of three years, with a three-month grace period.

This initiative targets over 100,000 small businesses, empowering them with the tools to thrive in a competitive market.

Key Benefits and Incentives

The scheme offers several additional benefits to support entrepreneurs:

Interest-Free Loans

• Accessible loans for small entrepreneurs to address financial barriers.

Subsidies and Advisory Support

• Capital subsidies up to Rs5 million for solar equipment and cleaner technologies.
• Advisory services to help businesses make informed decisions.

Development of Industrial Estates

• Establishment of new industrial zones in cities like Sialkot, Gujrat, and Quaidabad.
• Special focus on relocating tanneries to reduce pollution and boost leather exports.

These incentives aim to create a conducive environment for businesses to flourish.

Future Plans and Expansion

The Punjab government plans to launch Phase-II of the Assan Karobar Finance Scheme in the fiscal year 2025-26, with an ambitious budget of Rs100 billion.

Key highlights of Phase-II:

• Estimated loans worth Rs379 billion.
• Support for an additional 24,000 SMEs.

This expansion reflects the government’s commitment to strengthening Punjab’s economic foundation for sustainable growth.

Application Process and Eligibility

Applying for the scheme is straightforward:

1. Eligibility:
   • Be a resident of Punjab aged 25-55 years.
   • Own or rent a business premises.
   • Have no prior defaults or poor credit history.
2. Application Steps:
   • Visit the official portal or contact the helpline.
   • Submit required documents, including identity verification, business details, and financial statements.
   • Await approval based on verification and eligibility checks.

The transparent and efficient process ensures that funds reach deserving entrepreneurs.

Contact Information

For more information or assistance, reach out through these channels:

• Email: contact@karobarcard.pk
• Helpline: 051 – 111 962 962

The support team is available to guide applicants through the entire process.

Conclusion

The Assan Karobar Finance Scheme is a monumental step toward fostering a robust entrepreneurial ecosystem in Punjab. By offering interest-free loans, capital subsidies, and modern industrial infrastructure, the scheme empowers SMEs to thrive and contribute to the province’s economic growth.

This initiative underscores the Punjab government’s dedication to uplifting businesses and improving livelihoods across the province. If you’re an entrepreneur looking to grow your business, don’t miss this golden opportunity—apply today!