Transform Your Business Dreams with the Punjab Asaan Karobar Card
The Punjab government, led by Chief Minister Maryam Nawaz, has unveiled the Asaan Karobar Finance scheme, a revolutionary initiative to support Small and Medium Enterprises (SMEs) and aspiring entrepreneurs. Through this game-changing programme, individuals can access interest-free loans ranging from Rs 1 million to Rs 30 million, empowering them to grow and thrive in the competitive market. This exciting initiative is tailored to promote business activities across the province, with a focus on simplifying the process. With no need for a NOC, licence, or pre-approved plan, you can start your business today and repay the loan in easy installments.
The Punjab Asaan Karobar Card allows youth and citizens between the ages of 21 and 57 to apply via the official website akc.punjab.gov.pk. The loan, available for small businesses, comes with added benefits like subsidised rates on land for ventures. This first programme in the province’s history ensures a step-by-step guide for online registration, where users can fill out a simple form and receive funding for up to three years. This initiative, launched during an inauguration ceremony, highlights the leadership’s commitment to fostering business growth and providing a robust foundation for entrepreneurs to succeed.
Unlock Opportunities with the Asaan Karobar Card
- The Asaan Karobar Card is an innovative financial tool introduced to promote entrepreneurship and economic empowerment in Punjab.
- It provides interest-free loans to individuals for establishing or expanding businesses, easing the burden of interest rates.
- Offers loan amounts up to Rs 30 million, with a flexible repayment period of three years and a grace period of three months before repayments begin.
- Features include digital transactions and other business-related facilities to streamline operations.
- Launched by CM Maryam Nawaz, this finance scheme supports economic growth, job creation, and industrialization in the province.
- Encourages small business owners to contribute to the provincial and national economy.
- Part of a broader initiative aimed at fostering a thriving entrepreneurial ecosystem in Punjab.
Key Features of the Asaan Karobar Finance Scheme
- The Asaan Karobar Finance Scheme provides interest-free loans ranging from Rs 1 million to Rs 30 million, supporting entrepreneurs and small businesses in Punjab.
- Offers flexible repayment terms with easy installments, making it an attractive option for businesses to scale operations or start new ventures.
- No pre-approval requirements like NOCs, licenses, or blueprints, ensuring a smoother process for applicants.
- Includes subsidized rates for land, reducing the cost of setting up businesses.
- Provides free solar systems worth Rs 500,000 for industries in export processing zones, ensuring sustainable and cost-effective operations.
- Supports digital transactions through POS and mobile apps, covering vendor payments, utility bills, and other business-related expenses.
- Features a grace period of three months and equal monthly installments, ensuring financial ease for businesses.
Eligibility Requirements for the Asaan Karobar Finance Scheme
- Applicants must be between the ages of 21 and 57 and have a valid CNIC.
- The scheme is designed for small business owners or those planning to start a business in Punjab.
- Residency is required, and only Pakistani nationals residing in Punjab are eligible.
- Businesses can be either existing or prospective, with a clean credit history and no overdue loans.
- Applicants must be tax filers and have a registered mobile number.
- References and documentation related to residence or business location must be provided.
- Preference is given to businesses in areas with growth potential, such as export processing zones.
- The application process is kept fast and simple, with no need for NOCs, licenses, or other complex requirements.
- Mandatory registration with PRA or FBR must be completed within six months of issuance.
Step-by-Step Guide to Apply for the Asaan Karobar Finance Scheme
- Visit the official websites: akf.punjab.gov.pk or akc.punjab.gov.pk.
- Fill out the application form with your personal information, including your CNIC, contact details, and business information.
- Complete all fields marked as mandatory accurately.
- Submit documents such as proof of ownership, a valid mobile phone number, and other required files.
- No NOCs, licenses, or blueprints are required, making the process smooth.
- The Bank of Punjab will review your application, and if approved, you will be notified and the loan amount will be disbursed promptly.
- Create an account using your CNIC and password, then log in.
- Fill in details like your gender, address, education, employment status, and residence information.
- Add business-specific information such as its nature, incorporation, and development plans.
- Upload documents including the front and back of your CNIC and, if applicable, any partners’ or directors’ identification.
- Pay the non-refundable processing fee of 500 PKR.
- For assistance, contact the helpline at 1786.
Charges and Security Details
The annual card fee for the Asaan Karobar Card is 25,000 PKR plus FED, which is deducted directly from the approved limit. Late payment charges will apply as per the bank’s policy, ensuring fairness and transparency in the financial terms. This structure is designed to maintain simplicity for borrowers while adhering to standard banking practices.
For security, the borrower must provide a digitally signed personal guarantee, ensuring accountability. Additionally, life assurance is included in the loan portfolio, offering added peace of mind. The Urban Unit will conduct physical verification of the business premises to ensure the legitimacy of the enterprise. This robust process supports a secure and reliable financial system for all applicants.
Benefits of the Asaan Karobar Finance Scheme
The scheme promotes financial independence by providing access to capital without interest, enabling businesses to expand and overcome financial barriers. It supports small enterprises that often struggle with traditional institutions, bridging the gap and empowering businesses to thrive. The initiative boosts entrepreneurship, reducing the burden of financial strain, while contributing to economic development in Punjab by creating jobs and increasing business activity. Sustainability is also encouraged with solar systems for export industries, helping to reduce long-term operational costs and promoting environmental responsibility.
Asaan Karobar Card: An Additional Benefit
The Asaan Karobar Card, launched alongside the Finance Scheme, provides loans ranging from Rs 500,000 to Rs 1 million, making it ideal for smaller businesses needing less financial support. Like the finance scheme, the card offers interest-free loans with a straightforward and hassle-free application process, ensuring entrepreneurs receive quick assistance to enhance their business operations. Additionally, the Ehsaas Nojawan Program in KPK offers a similar opportunity for interest-free loans through online registration for 2025.
How This Scheme Will Impact Punjab’s Economy
- The Asaan Karobar Finance Scheme is a game-changer for Punjab’s economy, as it empowers small businesses and entrepreneurs with financial support free of the burden of interest.
- This initiative will help create job opportunities, encourage local manufacturing, and increase exports, contributing to the economic growth of Punjab.
- CM Maryam Nawaz highlighted that the program is designed to diversify the economy by promoting entrepreneurship, industrialization, and modernization.
- This scheme is a significant step toward building a more inclusive and prosperous Punjab.
Conclusion
The Asaan Karobar Finance Scheme and Card provide a golden opportunity for small businesses and entrepreneurs in Punjab to access financial support without the burden of interest. Whether you want to expand an existing business or start something new, this program offers the key to success. With easy eligibility criteria, applicants who are ready can take the next step and apply online through the official websites, ensuring a smooth process to secure funding.
This initiative by the government not only helps businesses overcome financial challenges but also supports a transformative business journey. By eliminating interest and simplifying the application process, the program ensures accessibility for all eligible applicants, making it an ideal solution for those looking to achieve financial independence and sustainable growth.
FAQs
What is the Asaan Karobar Card?
The Asaan Karobar Card is a financial initiative introduced by the Punjab Government to empower small business owners and young entrepreneurs. It offers interest-free loans between 100,000 PKR and 1 million PKR to help businesses start or expand their operations.
What is the maximum loan amount under the Asaan Karobar Card?
Applicants can secure loans ranging from 100,000 PKR to 1 million PKR, tailored to their specific business needs.
What are the repayment terms for the Asaan Karobar Card?
The loan repayment period is three years, with a three-month grace period before payments begin. Borrowers can repay the loan through equal monthly installments (EMIs), ensuring affordability and ease of repayment.
How do I register for the Asaan Karobar Card online?
To register, visit the official portal at https://akc.punjab.gov.pk. Create an account, complete the registration form, upload the necessary documents, and pay a non-refundable processing fee of 500 PKR.
Is the loan under the Asaan Karobar Card interest-free?
Yes, the loan is entirely interest-free, providing a cost-effective solution for entrepreneurs and small business owners.
Where can I get additional business support under the Asaan Karobar Card?
The Punjab Government offers feasibility studies and business guidance through the PSIC and BOP websites. For further assistance, visit your nearest Bank of Punjab branch.
