The Punjab government, under the leadership of Chief Minister Maryam Nawaz Sharif, has launched the CM Punjab Asaan Karobar Card, a groundbreaking initiative aimed at providing interest-free loans of up to Rs 1 million to small and medium business owners. This financial support is designed to boost entrepreneurship, promote economic growth, and enhance the country’s GDP. With an allocation of over Rs 48 billion, this initiative ensures accessible funding for startups and small businesses.
Key Benefits of the Asaan Karobar Card
One of the major advantages of this program is its flexible repayment plan, allowing borrowers to repay the loan over three years. This initiative is open to men, women, transgender individuals, and special persons, ensuring equal opportunities for all.
Many individuals visit local shops to register for this program, but you can apply online for free by following the step-by-step guide provided in this article.
If you are a startup owner or small business entrepreneur looking to expand, this scheme is highly beneficial. Read till the end to understand the eligibility criteria, application process, and loan repayment details.
Eligibility Criteria for Asaan Karobar Card
To qualify for this program, applicants must meet the following conditions:
- Must be a permanent resident of Punjab
- Age should be between 21 and 57 years
- Must possess a valid CNIC with a Punjab address
- Should have a SIM registered under their name
- Must be an active tax filer
- Applicable to small entrepreneurs (SEs) in Punjab
If you meet these requirements, you can proceed with the online application process.
Step-by-Step Guide to Apply for the Asaan Karobar Card Online
Follow these simple steps to submit your online loan application:
Step 1: Visit the Official Portal
Go to the official Asaan Karobar Card website: akc.punjab.gov.pk
Step 2: Register an Account
- Click on Register Now
- Fill in the required details:
- Name
- Father’s Name
- CNIC Number
- Date of Birth
- CNIC Issue & Expiry Date
- Mobile Number
- Set a strong password
- Click on Create Account
Step 3: Log into Your Account
- Enter your CNIC number and password to log in.
Step 4: Fill Out the Application Form
Provide the necessary details in the following sections:
- Personal Details
- Business Details
- Loan Details
- Upload Required Documents
Step 5: Submit Your Application
- After completing the form, click Submit
- Previously, a Rs 500 processing fee was required, but the government has abolished this fee
Loan Usage & Repayment Details
- First 50% of the loan will be available during the first six months.
- Funds can only be used for business purposes (personal expenses are restricted).
- 3-month grace period before repayments begin.
- Monthly installments must cover at least 5% of the outstanding loan.
- Second 50% installment will be disbursed after one year, subject to regular payments and registration with PRA or FBR.
- Full repayment will be made in Equated Monthly Installments (EMIs) over two years.
Important Announcements
- Processing Fee Abolished: Previously, applicants had to pay a Rs 500 processing fee, but this has now been removed.
- Increased Loan Limit: Eligible applicants can now receive up to Rs 1 million in interest-free loans.
- Strict Usage Policy: The loan must be used for business purposes only.
Conclusion
The Punjab CM Asaan Karobar Card is a transformative initiative by the Punjab government, providing much-needed financial support to small business owners. With an easy online application process, flexible repayment terms, and zero interest rates, this program is a golden opportunity for entrepreneurs looking to expand their businesses without financial stress.
Apply today and take advantage of this incredible opportunity! If you have any questions, feel free to ask in the comment section. ✅