In a significant move to enhance business activities across the province, the Punjab government has introduced two groundbreaking initiatives: the “CM Punjab Asaan Karobar Finance” and “Asaan Karobar Card” programs. These schemes were officially launched by Chief Minister Maryam Nawaz Sharif at an inauguration ceremony.
During her address at the launch of the Asaan Karobar Finance Scheme, CM Maryam announced that the initiative will provide interest-free loans ranging from Rs 10 lakh to Rs 3 crore. To make repayment easier for entrepreneurs, loans between Rs 5 lakh and Rs 10 lakh will be accessible via the Asaan Karobar Card. Interested parties can apply for these loans online, with additional details available through the helpline at 1786.
Maryam emphasized the revolutionary nature of these schemes, highlighting their potential to transform the economic landscape for small and medium enterprises (SMEs) in Punjab. Recognizing SMEs as the backbone of the economy, she stated, “The Punjab government is committed to changing the destiny of both the province and the nation.”
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These pioneering initiatives are designed to simplify the business startup process significantly. The government will also offer land at highly subsidized rates, making it easier for aspiring entrepreneurs to launch their ventures.
“This is a historic program, as we are providing loans up to Rs 3 crore on a 100 percent interest-free basis. There’s no need for immediate NOCs, licenses, or approvals to secure a loan. You can obtain a loan today and kickstart your business tomorrow, facilitated through the Bank of Punjab,” she added.
In addition to supporting SMEs, Maryam indicated that further incentives will be available to encourage industries in export processing zones, including solar systems worth Rs 50 lakh, which will be offered free of charge.
These initiatives are set to unlock new opportunities for young entrepreneurs, empowering them to grow their businesses and contribute to the economic development of Punjab.
