Starting a business in Punjab just got easier!
The Punjab government has introduced the Asaan Karobar Scheme to support Small and Medium Enterprises (SMEs), young entrepreneurs, and new businesses. The program provides interest-free loans of up to Rs 30 million, making it a first-of-its-kind opportunity in the province.
Table of Contents
Key Components of the Scheme
The initiative comprises two main components:
- Asaan Karobar Finance Scheme: Offers loans from Rs 1 million to Rs 30 million for businesses.
- Asaan Karobar Card Scheme: Aims to provide financial support through user-friendly cards.
Both programs are designed to stimulate economic growth and encourage entrepreneurship in Punjab.
Additional Benefits of the Asaan Karobar Scheme
Free Business Training: The Punjab government is also offering free workshops and mentorship programs to help new businesses succeed.
Tax Benefits for New Businesses: Those who register their businesses under this scheme might get tax incentives and reduced registration fees.
Who Can Apply for the Asaan Karobar Scheme?
Freelancers and E-commerce Businesses: Those working in online businesses, e-commerce, and freelancing are also eligible if they provide proof of income.
Special Quota for Women: The Punjab government has reserved a specific percentage of loans for female entrepreneurs, making it easier for women to start businesses.
Eligibility Criteria
Applicants must meet the following requirements:
- Be aged between 21 and 57 years.
- Have a CNIC and a registered mobile number.
- Be a tax filer with no negative credit history.
- Have or plan a business located within Punjab.
- Submit references and documentation for business and residence.
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Loan Details
| Loan Tier | Loan Amount | Processing Fee | Interest Rate | Repayment Tenure |
| Tier 1 | Rs 1 million to Rs 5 million | Rs5,000 | 0% | Up to 5 years |
| Tier 2 | Rs6 million to R s30 million | Rs10,000 | 0% | Up to 5 years |
Loan Disbursement Process
Once an application is submitted, it usually takes 2–4 weeks for verification. After approval, the loan amount is disbursed to the applicant’s business bank account.
Asaan Karobar Scheme Apply Online
The application process is completely online. Following are the simple steps to apply
Prepare Documents:
- Passport-size photograph or selfie.
- Scanned CNIC (front and back).
- Registered mobile number.
- Two references with CNIC and contact details.
- Proof of tax filing status.
- Business-related documents, such as income records and property agreements.
- Online Registration:
- Visit akf.punjab.gov.pk for the Asaan Karobar Finance Scheme.
- Complete the Form:
- Complete the form carefully and upload the necessary documents. Pay the processing fee (Rs 500 for cards, Rs 5,000–10,000 for loans).
- Track Application:
- Receive SMS updates with your registration number.
- Check the application status through the official portal.
Image Source: Asaan Karobar Finance Portal
Asaan Karobar Scheme Last Date
Applicants must apply before March 31, 2025, to take advantage of this historic initiative.
Conclusion
The Asaan Karobar loan Scheme is a bold step by the Punjab government to promote entrepreneurship, empower SMEs, and boost the province’s economy. With interest-free loans, simplified application processes, and a focus on youth empowerment, this initiative is set to pave the way for a more prosperous future in Punjab.
FAQs
Frequently Asked Questions (FAQs)
Q1: Who is eligible for the Asaan Karobar Scheme?
A: Pakistani nationals aged between 21 and 57 years, residing in Punjab, with a valid CNIC, registered mobile number, active tax filer status, and an existing or proposed business in Punjab are eligible to apply.
Q2: What types of businesses can apply for the loan?
A: Both existing and new businesses located within Punjab are eligible, provided they meet the scheme’s criteria.
Q3: How can I apply for the Asaan Karobar Scheme?
A: The application process is online. Visit the official portal at akf.punjab.gov.pk, prepare the required documents, fill out the application form, upload the necessary documents, and pay the processing fee.
Q4: What is the maximum loan amount I can apply for?
A: You can apply for an interest-free loan of up to Rs 30 million under the Asaan Karobar Finance Scheme.
Q5: Is there any interest on the loans provided under this scheme?
A: No, all loans under the Asaan Karobar Scheme are interest-free.
Q6: What is the repayment period for the loans?
A: The loans are repayable in easy installments over a period of up to five years.
Q7: Is there a processing fee for the loan application?
A: Yes, there is a processing fee of Rs 5,000 for loans up to Rs 5 million and Rs 10,000 for loans above Rs 5 million.
Q8: Can I apply for the loan if I am not a tax filer?
A: No, being an active tax filer is a mandatory requirement to apply for the Asaan Karobar Scheme.
Q9: How will I know the status of my application?
A: You will receive SMS updates with your registration number, and you can check the application status through the official portal.
Q10: What is the last date to apply for the Asaan Karobar Scheme?
A: The last date to apply is March 31, 2025.