Punjab Rozgar Scheme Loan | Punjab Rozgar Loan | Punjab Rozgar Scheme – Small & Medium Enterprises are the back bone of a country’s economy, and their growth is one of the key factors of economic uplift. Despite their importance, these businesses lack access to financing options. In order to give boost to this neglected sector, Government of Punjab has been working on various uplift initiatives which have been merged as a single scheme. “Punjab Rozgar Scheme”, launched by Punjab Small Industries Corporation (PSIC) in collaboration with The Bank of Punjab aims to provide subsidized small business loans in the range of Rs. 100,000/- to Rs. 10,000,000/-
Punjab Government under the supervision of Mr. Shehbaz Sharif launched Punjab Rozgar Scheme to reduce the poverty and unemployment in the Punjab province. Under this scheme, more than 30 billion loans starting from 100,000 – 10,000,000 will be provided to the individuals to start a small business to get a suitable income. The individual will pay back the loan in easy installments.
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Upto Rs. 10.00 Million
Clean lending: from Rs. 100,000/- to Rs. 1,000,000/-
Secured lending: from Rs. 1,000,001/- to Rs. 10,000,000/-
Under Punjab Green Development Program, the limit of a loan will remain the same. However, preference will be given to the micro-enterprises, ready to adopt the environment improving technology, having up to 10 numbers of employees.
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Purpose of loan
Setting up of new business
Balancing, Modernization and Replacement (BM&R) for existing businesses
Rs. 2000/- (non-refundable) at the time of submission of application
Type of loan
Term loan as per bank policy and working capital
Also Check: Akhuwat Loan Scheme 2023
Also Check: Business Loan In Pakistan
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Punjab Rozgar Loan
Another more than 1 billion Punjab Rozgar Loan will be provided to start the following business.
Punjab Green Development Loan
Punjab Green Development Loan will be provided for the following businesses.
- Bricks making Bhatta ( Zig Zag Technology)
- Organic Food
- Drip Irrigation
- Solar System
- Bio gas Plant
Punjab Green Development Program (PGDP) has been initiated to improve environmental quality in the province and to reduce air, soil, and water pollution; address deforestation, floods, and land degradation; manage surface water and groundwater resources; conserve natural resources and protect biodiversity; develop public transportation and other alternatives to private motorized vehicles; integrate environmental considerations in public policy making and private investments; comply with international standards and enhance green competitiveness; and to promote resource and energy efficiency.
The following eligibility criteria will be adhered to to process the loans under Punjab Rozgar Scheme:
- Age should be 20 to 50 years
- Any Gender Male / Female / Transgender can apply for the loan.
- Resident condition is that individuals should be citizens of Pakistan, residents in Punjab, verified through CNIC
- The business location must be in Punjab
- Business Type: Sole Proprietor, Partnership, or any business fulfilling other eligibility criteria
- Must have a clean e-CIB / Credit History
- For startups / new businesses
- Having a viable business plan
- For existing businesses
- Having a viable business plan with a focus to sustain the impact of COVID-19
- Having Valid CNIC
- Any other parameter to be set by Punjab Small Industries Corporation (PSIC) / Government.
How to Apply Punjab Rozgar Scheme Loan.
Interested applicants need to apply ONLINE through www.rozgar.psic.punjab.gov.pk
Punjab Rozgar Scheme Loan | Punjab Rozgar Loan | Punjab Rozgar Scheme
What is the Punjab Rozgar Scheme Loan 2023?
The Punjab Rozgar Scheme Loan 2023 is a government initiative introduced by the Punjab government to provide financial assistance to individuals and businesses looking to start or expand their ventures in Punjab.
Who is eligible to apply for the Punjab Rozgar Scheme Loan 2023?
Individuals aged between 18 and 50 years, having Punjab domicile, and possessing a viable business plan are eligible to apply for the Punjab Rozgar Scheme Loan 2023. Businesses looking to expand and fulfill the specified criteria can also apply.
What is the maximum loan amount one can avail under the Punjab Rozgar Scheme 2023?
The maximum loan amount that can be availed under the Punjab Rozgar Scheme Loan 2023 is $50,000. However, the final loan amount will depend on the applicant’s business proposal and creditworthiness.
What is the interest rate and repayment period for the Punjab Rozgar Scheme Loan 2023?
The interest rate for the Punjab Rozgar Scheme Loan 2023 is 5% per annum. The repayment period for the loan is 5 years, which includes a grace period of 6 months for the borrowers to set up their businesses before starting repayments.
How can I apply for the Punjab Rozgar Scheme Loan 2023?
To apply for the Punjab Rozgar Scheme Loan 2023, you need to visit the official website of the Punjab government and fill out the online application form. Ensure you provide all necessary documents and a detailed business plan to support your application. The authorities will review your application, and if approved, you will receive further instructions on the disbursement process.