Asaan Karobar Card Scheme Registration Last Date
Under the Punjab Asaan Karobar Card, an interest-free loan of Rs 1 million will be provided by Chief Minister Maryam Nawaz to small businesses. This initiative aims to help businesses expand and create job opportunities across Punjab. The registration process has already started. To apply, visit the official akc website and enter all the required information. If you are running a business, you must submit relevant business details. After verification, if you meet the eligibility criteria, you will receive an interest-free loan under this program, which must be repaid within 3 years.
The online application process will remain open until January 31, 2025. Ensure you complete your registration before the deadline. If eligible, you will receive the loan directly.
Read this article carefully to understand all the details of the scheme. Once you have all the necessary information, complete your registration and secure your interest-free loan to support your business growth and improve your financial stability
What is the Punjab Asaan Karobar Card Scheme?
The Punjab Asaan Karobar Card Scheme is a government initiative aimed at empowering small businesses by offering a digital SME card. This card provides businesses with a revolving credit facility of up to Rs. 1 million, ensuring easy access to funds and transparency in financial transactions. The scheme allows businesses to expand and sustain their operations, ultimately contributing to the province’s economic growth.
Under this scheme, businesses can access interest-free loans, making it a significant step toward financial inclusion and support for entrepreneurs. The tenure of the loan is three years, with repayments spread over 24 equal monthly installments after the first year.
Key Features of the Asaan Karobar Card
- Interest-free revolving credit facility up to Rs. 1 million.
- Loan tenure of three years with manageable repayment terms.
- Zero percent interest rate for all borrowers.
- A grace period of three months from card issuance.
- Digital verification process for easy and transparent approval.
- The loan is provided exclusively for business-related expenses.
Online Registration Process for Punjab Asaan Karobar Card
To apply for the Punjab Asaan Karobar Card Scheme, follow these simple steps:
Online Registration: Visit the official PITB portal and complete the application form.
Processing Fee: Pay the non-refundable processing fee of Rs. 500.
Digital Verification: The authorities will verify your CNIC, credit history, and business premises digitally.
Approval and Card Issuance: If your application is approved, you will receive the Asaan Karobar Card, which you can use for business expenses.
It is crucial to ensure that all provided information is accurate, as any discrepancies may result in application rejection.
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Eligibility Criteria for New Applicants
To qualify for the Punjab Asaan Karobar Card Loan Scheme, applicants must meet the following conditions:
- Must be a small business owner in Punjab.
- Age between 21 and 57 years.
- Must be a Pakistani citizen residing in Punjab.
- Should possess a valid CNIC and a registered mobile number.
- Must have an existing or prospective business in Punjab.
- Should have a satisfactory credit history and pass a psychometric assessment.
- Must not have any outstanding debts or defaults.
- Only one application per individual or business is allowed.
Loan Usage and Repayment Terms
The loan funds can be utilized for various business-related expenses, including:
- Payments to vendors and suppliers.
- Utility bills and government fees.
- Digital transactions via POS or mobile apps.
Cash withdrawals are permitted up to 25% of the loan limit, but personal or luxury expenses are strictly prohibited. The loan is disbursed in two phases:
- The first 50% of the loan is accessible within the first six months.
- The remaining 50% is released upon regular payments and business registration with PRA/FBR.
Repayment of the loan will be made in 24 equal monthly installments, starting after the first year.
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Charges and Fees
While the scheme offers interest-free loans, some fees are applicable:
- Annual Card Fee: Rs. 25,000 + FED (deducted from the approved limit).
- Additional Costs: Life insurance, card issuance, and delivery charges covered by the scheme.
- Late Payment Charges: Applicable as per the bank’s policy.
Security and Verification Process
To ensure compliance and secure transactions, the following measures are in place:
- Borrowers must digitally sign a personal guarantee.
- Life insurance is included in the loan package.
- Urban Unit will conduct a physical verification of business premises within six months of approval and annually thereafter.
- Registration with PRA/FBR is mandatory within six months of card issuance for continued access to funds.
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Additional Support for Applicants
For entrepreneurs seeking guidance, feasibility studies are available on the websites of the Punjab Small Industries Corporation and Bank of Punjab. These resources are particularly beneficial for startups and those looking to expand their businesses.
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FAQs About Punjab Asaan Karobar Card Scheme
Who is eligible to apply for the scheme?
Small business owners aged 21-57, residing in Punjab with a valid CNIC, can apply.
How can I register for the Punjab Asaan Karobar Card?
Visit the PITB portal, fill out the application, pay the processing fee, and complete the digital verification process.
What is the last date for registration?
The last date to apply for the scheme is March 31, 2025.
How much loan can I get under this scheme?
Eligible applicants can receive an interest-free revolving credit of up to Rs. 1 million.
How will I repay the loan, and what are the terms?
The repayment period is three years, with 24 equal monthly installments starting after the first year.
What happens if I fail to register with PRA/FBR on time?
Failure to register within six months of card issuance may result in restricted access to the loan funds.
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Final Summary
The Punjab Asaan Karobar Card Loan Scheme is a remarkable opportunity for small business owners in Punjab to secure interest-free financial support. With a registration deadline of March 31, 2025, eligible applicants must act fast to take advantage of this initiative.
By applying for this scheme, business owners can expand their operations, sustain financial stability, and contribute to the province economic growth. Ensure you meet the eligibility criteria, follow the registration steps carefully, and submit your application on time to secure your business future. Do not miss out on registering today and unlock financial freedom for your business.