LAHORE – Chief Minister of Punjab Sardar Usman Buzdar Thursday inaugurated Rs30 billion worth Punjab Rozgar Scheme to provide loans for starting small scale business in the province.
Punjab Rozgar Scheme 2020 & Procedure
The loan process has been made easy and the interested youths could submit their applications through PSIC portal, Punjab Bank website or by app.
Giving the details, the chief minister announced that loans from Rs100,000 to Rs10 million would be given at minimal interest rates in collaboration with Punjab Small Industries Corporation and the Bank of Punjab. Men, women, differently-abled, and the transgender community of 20 to 50 years of age would benefit from this scheme, he said.
Small loans will be provided for 339 subsectors of 23 assorted sectors, including 26 subsectors of the textile industry, to boost business, trade, and manufacturing in the province, he added. This facility will promote the cottage industry and people could expand their businesses by benefitting from this scheme.
Who can apply?
- University/college graduates with entrepreneurial skill
- Diploma/certificate holder from TVET having technical/vocational training.
- Artisans and skilled workers
- Existing businesses (However, preference will be given to existing businesses in wake of the current COVID-19 pandemic)
- Micro and other enterprises that apply for a loan to adopt resource-efficient and cleaner production technologies or any green w/ environment-friendly intervention to improve the environmental performance of their operations.
The following eligibility criteria will be adhered to process the loans under Punjab Rozgar Scheme:
Age: 20 to 50 years
Gender: Male / Female / Transgender
Resident: Citizen of Pakistan, Resident in Punjab, verified through CNIC
Business Location: 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