Punjab CM Launches “Asaan Karobar Card” Scheme for Small Business Owners

Islamabad: The Punjab Government has introduced the Asaan Karobar Card scheme, aimed at supporting small and medium-sized businesses across Punjab. Under the program, eligible applicants can receive an interest-free loan of up to PKR 10 lakh, providing a financial boost to help strengthen their businesses.

The loan is structured over three years, with a revolving credit facility available during the first 12 months, allowing business owners to access funds as needed. A three-month grace period is included, followed by repayment in 24 equal monthly installments. Borrowers can use the loan for various business expenses such as supplier payments, utility bills, government fees, and taxes. Up to 25% of the total loan amount can also be withdrawn as cash for urgent business needs. All transactions are conducted digitally to ensure transparency and proper fund usage.

To apply, applicants must be Pakistani citizens aged between 21 and 57, possess a valid CNIC, have a registered mobile number, and operate a business within Punjab. Applicants are also required to pass credit and psychometric verification. Each individual or business can submit only one application.

The application process is fully online through a portal provided by the Punjab Information Technology Board, where applicants submit personal details, CNIC information, and business data. A non-refundable processing fee of PKR 500 is required at the time of submission. After verification of CNIC, credit history, and business location, the approved applicants receive the Asaan Karobar Card, granting access to the loan. Initially, 50% of the loan limit is accessible in the first six months, with the remainder released upon timely repayment and registration with the Punjab Revenue Authority or the Federal Board of Revenue.

While the loan is interest-free, administrative costs such as an annual card fee of PKR 25,000, federal excise duty, life insurance charges, and issuance fees may apply. Late repayment penalties are also enforced as per bank policies. Borrowers are required to provide a digitally signed personal guarantee and life insurance coverage.

The Punjab government has also established a monitoring system to ensure proper use of the funds. Urban unit teams conduct physical verification of business locations within six months of disbursement, followed by annual inspections. Additionally, entrepreneurs can access feasibility studies for startups through PSIC and Bank of Punjab websites.

For further guidance or assistance, applicants can contact the 1786 helpline. The initiative is designed not only to promote business activity but also to create new employment opportunities across the province.