Punjab Chief Minister Maryam Nawaz Sharif is set to launch the ambitious ‘Assan Karobar Finance’ scheme, aimed at empowering small and medium-sized entrepreneurs (SMEs) across the province. This groundbreaking initiative is designed to boost economic growth, create jobs, and enhance business opportunities for budding entrepreneurs.
The scheme will provide interest-free loans to help small businesses establish, expand, and modernize their operations. It covers a broad range of sectors, including agriculture, manufacturing, and services, ensuring inclusive economic growth.
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Key features of the program include:
- Tiered Loan Structure:
- Tier-1 offers unsecured loans up to Rs5 million.
- Tier-2 provides secured loans between Rs5 million and Rs30 million.
- Eligibility: Applicants aged 25–55 with a good credit history, who are either business owners or tenants, can apply.
To further support SMEs, the scheme introduces the Punjab CM Assan Karobar Card, a digital tool providing interest-free loans of up to Rs1 million for three years with a grace period of three months.
Additional incentives include subsidies for solar equipment and cleaner production technologies, advisory services, and the development of industrial estates in key regions like Sialkot, Gujrat, and Quaidabad. A dedicated tannery zone in Sialkot is also planned to improve leather export quality and reduce environmental impact.
The scheme is expected to benefit over 100,000 small businesses in its initial phase, with plans for an expanded second phase next fiscal year, featuring a Rs100 billion budget to support 24,000 SMEs across Punjab.
This initiative reflects the government’s commitment to fostering entrepreneurship and creating a robust, self-reliant economy.
