Lahore: Punjab has introduced its largest and first-of-its-kind Business Finance Scheme aimed at boosting the economy and enhancing exports. According to sources, Chief Minister Punjab Maryam Nawaz inaugurated the initiative, emphasizing its potential to create significant economic opportunities.
A total of PKR 84 billion has been allocated for the Asaan Karobar Program. Of this, over PKR 48 billion is dedicated to the Asaan Karobar Card Scheme, while more than PKR 36 billion will be disbursed as interest-free loans under the Asaan Karobar Finance Scheme.
The scheme offers interest-free loans ranging from PKR 1 million to PKR 30 million, with a flexible repayment period of five years through easy installments. Interested individuals can apply online via the official portal at akf.punjab.gov.pk.
Additionally, the Asaan Karobar Card Scheme provides interest-free loans of up to PKR 1 million to support startups and small businesses. These loans can be repaid over three years in manageable installments. The scheme is open to residents of Punjab, including men, women, transgender persons, and differently-abled individuals. The card can be used for various purposes such as purchasing raw materials, paying government fees, taxes, and utility bills, and it also allows up to 25% cash withdrawal.
During the launch event, CM Maryam Nawaz stated that the scheme aims to empower youth by providing self-employment opportunities. She highlighted that it is the government’s responsibility to facilitate employment opportunities post-education and that Punjab's youth can play a pivotal role in economic development through this initiative.
This ambitious program reflects the Punjab government's commitment to fostering entrepreneurship and improving the province's economic landscape.