Punjab CM Assan Karobar Card and Finance Scheme

Explore Punjab CM’s Assan Karobar Card and Finance Scheme, offering interest-free loans, tiered financing, and comprehensive support to boost SMEs, create jobs, and enhance exports. Learn about eligibility, benefits, and future plans.

The Punjab CM Assan Karobar Card and Finance Scheme is a transformative initiative by the Punjab government aimed at fostering entrepreneurship, generating employment, and driving economic growth in the province. This comprehensive program provides financial assistance, technical support, and a conducive business environment to enable small and medium enterprises (SMEs) to thrive.

Key Features of the Assan Karobar Card

1. Interest-Free Loans:
   • Up to PKR 1 million in interest-free loans.
   • Repayment tenure of three years with a grace period of three months.
   • Funds are strictly allocated for business-related activities, ensuring effective utilization.
2. Digital Convenience:
   • The card facilitates transactions through mobile apps and point-of-sale systems, streamlining business operations.
   • Over 100,000 small businesses are expected to benefit from this initiative.
3. Inclusive Eligibility Criteria:
   • Age Range: 21 to 57 years.
   • Applicants must possess a valid CNIC and NTN.

Assan Karobar Finance Scheme

Complementing the Assan Karobar Card, the Assan Karobar Finance Scheme offers additional financial opportunities:

1. Sector-Wide Support:
   • Covers all sectors, including agriculture SMEs.
   • Provides funding for working capital, modernization of machinery, and logistics leasing.
2. Tiered Loan Structure:
   • Tier-1: Unsecured loans up to PKR 5 million, requiring personal guarantees.
   • Tier-2: Secured loans ranging from PKR 5 million to PKR 30 million.
3. Flexible Repayment Options:
   • Repayment period of up to five years.
   • Grace periods: six months for new businesses and three months for existing businesses.
4. Eligibility Requirements:
   • Applicants must be aged 25 to 55 years, have a clean credit history, and own or rent their business premises.

Additional Incentives

The program includes several added benefits to ensure entrepreneurial success:

• Capital Subsidy: Up to PKR 5 million for solar equipment and cleaner production technologies.
• Advisory Services: Non-financial guidance for entrepreneurs.
• New Industrial Estates: Development of small industrial estates in Sialkot, Gujrat, and Quaidabad, offering affordable long-term leases of up to 30 years.
• Tannery Zone in Sialkot: Relocation of tanneries to reduce water pollution and improve the quality of leather exports.

Economic Impact

1. Job Creation:
   • Promotes employment by enabling businesses to expand operations.
2. Enhanced Exports:
   • Focus on modernizing industries to improve export quality, particularly in the tannery sector.
3. Economic Development:
   • Drives growth by facilitating SME expansion and diversification.
4. Financial Inclusion:
   • Brings more individuals and businesses into the formal economy.

Future Plans: Phase-II Expansion

The Punjab government is preparing for Phase-II of the Assan Karobar Finance Scheme, set to launch in 2025-26 with an allocation of PKR 100 billion. This phase aims to support 24,000 SMEs and disburse loans worth PKR 379 billion, further strengthening the province’s entrepreneurial ecosystem.

How to Apply

Interested individuals can apply for the Assan Karobar Card and Finance Scheme via the official website: http://akc.punjab.gov.pk/. The application process is straightforward and designed for ease of use.

The Punjab CM Assan Karobar Card and Finance Scheme is a game-changer for entrepreneurs in the province. With its interest-free loans, flexible repayment options, and wide-ranging support, the program is creating a robust foundation for SMEs to flourish. By removing financial barriers and fostering innovation, the Punjab government is paving the way for a brighter, more prosperous future.