The Asaan Karobar Card Scheme is a government initiative launched by Chief Minister Maryam Nawaz Sharif to assist business owners in Punjab. This scheme provides financial support to individuals who wish to start or expand their businesses. The primary goal is to offer loans of up to Rs. 1 million to eligible applicants to help improve their businesses and create job opportunities. This program offers an easy and convenient way for entrepreneurs to gain financial support without any major hurdles. Below, we explain the details of the scheme in simple terms.
| Point | Details |
| Loan Amount | Up to Rs. 1 million (Rs. 10 lakh) for business purposes. |
| Eligibility Criteria | Permanent resident of Punjab, valid CNIC, clean FBR record, at least 21 years old. |
| Repayment Terms | Loan to be repaid in monthly installments over 3 years. |
| Application Process | Rs. 500 processing fee, submit required documents, and complete registration. |
What is the Asaan Karobar Card Scheme?
The Asaan Karobar Card Scheme is a financial aid program launched by Maryam Nawaz Sharif for business owners in Punjab. The aim is to support businesses by providing loans of up to Rs. 1 million. This initiative is designed to assist entrepreneurs who want to start or grow their businesses but face financial challenges. Through this scheme, the Punjab government hopes to foster economic growth, create jobs, and support local businesses. This scheme is especially beneficial for those who may not have access to traditional bank loans or financing.
See also: Bewa Sahara Card
Loan Details Under the Asaan Karobar Card Scheme
The Asaan Karobar Card Scheme offers loans of up to Rs. 1 million (Rs. 10 lakh) to eligible business owners. This amount can be used for expanding current businesses or starting a new one. The loan is provided with a flexible repayment plan, allowing the borrower to repay in monthly installments over three years. The terms of repayment are easy to manage, making it a viable option for those in need of financial support. The scheme aims to ease the burden on businesses and allow them to focus on growth.
Eligibility Criteria for Asaan Karobar Card Scheme
- Permanent Resident of Punjab: Applicants must be a permanent resident of Punjab.
- Valid CNIC: A valid Computerized National Identity Card (CNIC) issued by the Government of Pakistan is required.
- Clear FBR Record: Applicants must have a clean Federal Board of Revenue (FBR) record, with no pending tax issues.
- Business Location: The business must be located within the province of Punjab.
- No Previous Loans: Applicants should not have taken any previous loans from banks or government programs for business purposes.
- Age Requirement: Applicants must be at least 21 years old to qualify for the scheme.
- Business Use Only: The loan should strictly be used for business purposes and not for personal expenses.
Registration Process for Asaan Karobar Card Scheme
- Processing Fee: A non-refundable fee of Rs. 500 must be paid for registration.
- Payment Methods: The fee can be paid through a mobile wallet or bank account.
- Submit Required Documents: Applicants need to submit necessary documents, including CNIC and business details.
- Complete the Registration Form: Fill out and submit the registration form with all the required information.
- Notification of Approval: After successful registration, applicants will be notified via SMS or phone call about their loan approval status.
See also: Bewa Sahara Card
Loan Disbursement and Check Distribution
Once your loan is approved, the Punjab government will distribute cheques to the successful applicants. These cheques can be cashed and used for business purposes. Maryam Nawaz Sharif herself has been actively involved in distributing cheques to business owners. After you receive the cheque, you can deposit it into your bank account and begin using the funds for your business operations. The entire process is streamlined to make sure that businesses can quickly access the funds they need without unnecessary delays.
Loan Repayment Terms & Conditions
The loan under the Asaan Karobar Card Scheme must be repaid within three years. Beneficiaries are required to pay the loan in monthly installments, and the amount of each installment will be shared with the borrower upon loan approval. In case of late payments, the bank handling the loan may impose penalties or late fees. It is important for borrowers to adhere to the repayment schedule to avoid additional charges. The loan amount is transferred directly to the applicant’s bank account, ensuring transparency and security in the disbursement process.
Conclusion
In this article, we are sharing all the details about the Asaan Karobar Card Scheme launched by Maryam Nawaz Sharif for business owners in Punjab. The scheme provides loans of up to Rs. 1 million to help business owners improve their businesses and achieve financial growth. To apply, one must meet the eligibility criteria, complete the registration process, and ensure the loan is used for business purposes. The loan repayment is spread over three years, with monthly installments, making it a practical financial solution for entrepreneurs.
FAQs
1. Can the Asaan Karobar Card loan be used for personal expenses?
No, the loan must be used strictly for business purposes. Using it for personal expenses is not allowed.
2. How will I know if my loan application is approved?
Once your application is approved, you will be notified via SMS or phone call by the Punjab government.
3. What happens if I miss an installment payment?
If you miss an installment payment, late fees or penalties may be applied according to the terms set by the bank handling the loan.
4. Can I apply for the Asaan Karobar Card if my business is located outside Punjab?
No, only businesses located in Punjab are eligible for the loan under this scheme.