Lahore: The Punjab government has launched two financial initiatives aimed at invigorating business activities in the province. The “CM Punjab Asaan Karobar Finance Scheme” and “Asaan Karobar Card” were officially inaugurated by Chief Minister Maryam Nawaz Sharif, promising interest-free loans and simplified processes for aspiring entrepreneurs.
According to a statement by Chief Minister of Punjab, the Asaan Karobar Finance Scheme will provide interest-free loans ranging from Rs. 10 lacs to Rs. 3 crores, with repayment through easy installments. The Asaan Karobar Card will offer loans between Rs. 5 lac and Rs. 10 lacs. Applications for these schemes are now open online, and further details can be accessed via helpline 1786.
CM Sharif highlighted these initiatives as transformative for small and medium enterprises (SMEs) in Punjab, emphasizing their potential to reshape the province’s economic landscape. She noted that these are the first schemes of their kind by the Punjab government, making it easier for individuals to start businesses. Additionally, land will be provided at subsidized rates to support new ventures.
In a groundbreaking move, the program allows loans up to Rs. 3 crore on a completely interest-free basis, with no immediate requirement for NOCs, licenses, or map approvals. The Bank of Punjab will facilitate these loans, aiming to stimulate the province’s industrialization and exports.
As an incentivizing measure, free solar systems worth Rs. 50 lac will be provided to those establishing industries in export processing zones. CM Sharif stated that these steps are crucial for SMEs to contribute to economic development, recalling the economic stability during former Prime Minister Nawaz Sharif’s tenure.
Highlighting recent economic challenges, CM Sharif credited Prime Minister Shahbaz Sharif’s efforts in stabilizing the economy, noting improvements in remittances, foreign exchange reserves, and stock market performance. She urged collective efforts to maximize the benefits of these schemes and accelerate Punjab’s industrialization.
The inauguration ceremony, attended by senior officials including Senior Provincial Minister Marriyum Aurangzeb and Information Minister Azma Zahid Bokhari, also featured a detailed briefing from the MD of Punjab Small Industries Corporation on these initiatives.