Lahore, Zubair kasuri, In a move to boost economic growth and encourage entrepreneurship, the Chief Minister of Punjab has launched the “CM Asan Karobar Scheme,” an innovative loan program aimed at young people and small to medium-sized businesses.
This ambitious initiative offers two distinct loan options:
* CM Asan Karobar Card: Designed for smaller enterprises like shops, beauty salons, and photography studios, this card provides access to interest-free loans of up to 1 million rupees. Available to individuals aged 21 to 57, these loans must be repaid within 3 years.
* CM Asan Karobar Finance: Catering to larger ventures, this scheme offers interest-free secured loans ranging from 5 million to 30 million rupees for small and medium-sized industries. Borrowers will need to provide collateral, such as property documents, and can repay the loan in installments over 5 years.
The government has emphasized ease of access for all, setting up an online portal through the Punjab Information Technology Board and a dedicated complaint cell (phone number 1786) to assist applicants. Required documents include a national ID card and a comprehensive business plan.
“This program is a testament to our commitment to fostering a thriving business environment in Punjab,” the Chief Minister stated. “By providing accessible and interest-free financing, we aim to empower entrepreneurs, create jobs, and stimulate economic growth across the province.”
The government has stressed that loans must be used solely for business purposes. Any misuse of funds will be considered a violation of the loan agreement.
For detailed information and to apply, interested individuals are encouraged to visit the Punjab Information Technology Board website or contact the complaint cell at 1786.
