Islamabad, Jan 27: The Government of Punjab has taken a groundbreaking step to empower small businesses by launching the CM Punjab Asaan Karobar Card. This initiative aims to provide financial support to entrepreneurs and small business owners, fostering growth and creating opportunities for sustainable economic development. With interest-free loans of up to PKR 1 million, this program is a beacon of hope for small and medium enterprises (SMEs) striving to overcome financial hurdles.
The program is designed with convenience and transparency at its core, integrating digital solutions such as mobile apps and point-of-sale (POS) systems. These features ensure easy access to funds while enabling entrepreneurs to manage their businesses efficiently. Let’s delve into the details of the Asaan Karobar Card program and guide you on how to apply through the official portal at akc.punjab.gov.pk. 
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Key Features of the Asaan Karobar Card
The Asaan Karobar Card offers numerous benefits to eligible applicants. Below is an overview of its key features:
| Feature | Details |
|---|---|
| Maximum Loan Limit | PKR 1 million |
| Interest Rate | 0% |
| Loan Tenure | 3 years |
| Grace Period | 3 months |
| Loan Type | Revolving credit facility |
| Application Process | Online via akc.punjab.gov.pk |
Allocation and Vision
Under the leadership of the Punjab Chief Minister, the province’s largest business financing initiative has been rolled out. With an allocation of PKR 84 billion, including PKR 48 billion specifically for the Asaan Karobar Card, this scheme underscores the government’s commitment to fostering economic inclusivity. The program not only provides financial assistance but also encourages entrepreneurship among youth, startups, and small business owners, paving the way for economic growth and job creation.
How to Apply for the Asaan Karobar Card
Here is a step-by-step guide to applying for the Asaan Karobar Card:
- Visit the Official Website:
- Navigate to akc.punjab.gov.pk.
- Click on the “Apply Now” button.
- Complete the Application Form:
- Enter personal details, including your full name, CNIC number, and date of birth.
- Provide business details such as name and type of enterprise.
- Submit Required Documents:
- Upload scanned copies of your CNIC and proof of residence.
- Ensure all information is accurate to avoid application delays.
- Pay the Processing Fee:
- A non-refundable fee of PKR 500 is required.
- Verification Process:
- Authorized agencies will digitally verify your CNIC, business premises, and creditworthiness.
- Receive Your Card:
- Upon approval, your Asaan Karobar Card will be issued and ready for use in business-related transactions.
For assistance, you can contact the program’s helpline at 1786.
Registration Process for the Asaan Karobar Card
Here are the steps to register:
Step 1: Access the Portal
Visit akc.punjab.gov.pk and click on the “Register Now” option.
Step 2: Fill in the Form
- Personal Details: Include your full name, CNIC number, date of birth, and family details.
- Contact Information: Provide an active mobile number for verification.
- Set a Password: Create a secure password for your account.
Step 3: Submit and Verify
Review all the entered information, then submit the form. A confirmation message will be sent to your mobile phone upon successful registration.
Eligibility Criteria
To qualify for the Asaan Karobar Card, applicants must meet the following requirements:
- Be a Pakistani national residing in Punjab.
- Aged between 21 and 57 years.
- Possess a valid CNIC and registered mobile number.
- Own or plan a business in Punjab.
- Maintain a clean credit history.
- Pass psychometric and credit assessments conducted by authorized agencies.
- Register the business with PRA/FBR within six months of receiving the card.
Loan Usage and Repayment Details
The Asaan Karobar Card offers flexible terms to ensure ease of use and repayment:
- First 50% of the Loan: Accessible within six months of approval.
- Grace Period: Borrowers have a three-month grace period before repayment begins.
- Monthly Installments: Repayment starts at 5% of the outstanding loan balance per month.
- Second 50% of the Loan: Released upon timely repayment of the first half.
- Equal Monthly Installments (EMIs): The remaining balance is repaid over 24 months after the first year.
Funds can be utilized for vendor payments, utility bills, and other business expenses. However, personal or non-business-related transactions are prohibited.
Charges and Fees
The Asaan Karobar Card program ensures affordability with minimal charges:
- Annual Card Fee: PKR 25,000 + FED, deducted from the approved loan limit.
- Additional Charges: Include life assurance, card issuance, and delivery fees.
- Late Payment Penalty: Applied according to the bank’s policy.
Empowering Entrepreneurs in Punjab
The CM Punjab Asaan Karobar Card stands as a testament to the government’s dedication to empowering SMEs and driving economic growth. By offering interest-free loans and streamlined digital processes, this initiative removes financial barriers and encourages entrepreneurship. Small business owners now have a robust platform to stabilize and expand their operations, contributing to the province’s development and prosperity.
For the latest updates, subscribe to the official WhatsApp channel or visit akc.punjab.gov.pk.
