Asaan Karobar Finance Scheme: A Game-Changer for Entrepreneurs in Punjab

Punjab Chief Minister Maryam Nawaz has launched the Asaan Karobaar Finance Scheme, a groundbreaking initiative designed to provide interest-free loans to entrepreneurs and Small and Medium Enterprises (SMEs) across Punjab. This scheme is a major step toward fostering economic growth by ensuring easy access to financial resources for startups and existing businesses.

Key Highlights of the Asaan Karobar Finance Scheme

• Interest-free loans ranging from Rs1 million to Rs30 million
• No NOC or prior approval required
• Repayment tenure of up to five years
• Grace period for startups and existing businesses
• Loans disbursed through the Bank of Punjab

This initiative is set to empower local businesses, create employment opportunities, and boost economic stability in the region.

CM Maryam Nawaz’s Vision for Economic Growth

During the official launch event in Lahore, CM Maryam Nawaz emphasized that the Asaan Karobar Finance Scheme is the first-of-its-kind initiative in Punjab’s history. She stated that the government aims to make financing easier, faster, and more accessible for entrepreneurs who struggle with capital investment.

She also announced that subsidized land will be provided to startups and growing businesses, further easing their journey toward success.

Beneficiaries of the Asaan Karobaar Finance Scheme

At the event, several entrepreneurs received financial support under this scheme, including:

• Asif from Faisalabad – Rs30 million for a pharmaceutical business
• Wajahat Fareed from Rawalpindi – Rs30 million for a software house
• Arshad from Lahore – Rs30 million for a sports export business
• Ali Asif from Sahiwal – Rs5 million for a furniture business
• Afzal – Rs3.175 million for a transport business
• Shabbir from Lahore – Rs5 million for a hair salon and cosmetics venture
• Faizan Mumtaz – Rs5.75 million for a garments business
• Abu Bakar Saleh & Chaudhry Zulfiqar Ali – Rs1 million each for a bakery and paper manufacturing business

This initiative is already transforming lives and businesses across Punjab by providing crucial financial support.

Loan Categories and Repayment Terms

The Asaan Karobaar Finance Scheme offers two tiers of interest-free loans:

• Tier 1: Rs1 million – Rs5 million (Processing Fee: Rs5,000)
• Tier 2: Rs6 million – Rs30 million (Processing Fee: Rs10,000)

Repayment & Grace Period

• 0% interest rate with a repayment period of up to five years
• Startups: 6-month grace period
• Existing businesses: 3-month grace period
• Monthly installments with a late charge of Rs1 per Rs1,000 per day

This flexible repayment structure ensures that entrepreneurs have enough time to establish and grow their businesses before starting repayments.

Eligibility Criteria for the Asaan Karobar Scheme

To qualify for the Asaan Karobar Finance Scheme, applicants must:

✔ Be aged 21 to 57 years
✔ Have a valid CNIC and registered mobile number
✔ Own or plan to start a business in Punjab
✔ Be a tax filer with a clean credit history
✔ Provide necessary business and residence documentation

Small businesses with annual sales up to Rs150 million and medium-sized businesses with sales between Rs150 million and Rs800 million can apply.

Documents Required for Application

Applicants must submit:

📌 CNIC and a passport-size photo
📌 Proof of tax filing
📌 Details of business income & expenses
📌 Rent agreement or property documents
📌 CNIC copies and contact details of references

How to Apply for the Asaan Karobar Scheme

Follow these easy steps to apply:

1️⃣ Register on the Punjab Information Technology Board (PITB) portal using your CNIC-linked mobile number
2️⃣ Fill out the application form (takes around 15 minutes)
3️⃣ Pay the processing fee – Rs5,000 (Tier 1) or Rs10,000 (Tier 2)
4️⃣ Upload the required documents and submit the form
5️⃣ Track your application through SMS and the online portal

Asaan Karobaar SME Card Usage

The Asaan Karobaar SME Card allows users to:

✔ Make vendor payments, pay utility bills, and government fees
✔ Withdraw cash (capped at 25% of the loan limit)
✔ Register with the Punjab Revenue Authority (PRA) or Federal Board of Revenue (FBR) within six months

Final Thoughts

The Asaan Karobaar Finance Scheme is a revolutionary step toward financial empowerment in Punjab. With zero-interest loans, simplified application processes, and flexible repayment options, this initiative ensures that entrepreneurs and SMEs have the financial backing they need to thrive.