Islamabad, Jan 22: The Punjab government has announced transformative initiatives to foster self-employment and small businesses. The Punjab Easy Business Finance Schemes and Punjab Easy Business Card Scheme, launched by Chief Minister Maryam Nawaz Sharif, boast a collective allocation of Rs 132 billion to empower entrepreneurs across the province.
Under the Punjab Easy Business Finance Schemes, Rs 84 billion is designated to offer Rs 36 billion in interest-free loans. Eligible individuals, including men, women, transgender persons, and people with special needs aged 25 to 55, can apply for loans of up to Rs 1 million. To qualify, applicants must reside in Punjab, be active tax filers, and have no history of financial defaults. Loan repayments can be made in manageable monthly installments over five years.
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The Punjab Easy Business Card Scheme, with an allocation of Rs 48 billion, focuses on facilitating startups and small businesses. This scheme provides interest-free loans of up to Rs 1 million, repayable over three years. The Easy Business Card offers versatility, allowing payments for raw materials, government fees, taxes, and utility bills. Moreover, beneficiaries can withdraw up to 25% of the loan amount in cash.
Both schemes aim to simplify the application process through dedicated online portals. Applicants can visit akf.punjab.gov.pk for the Easy Business Finance Scheme and akc.punjab.gov.pk for the Easy Business Card Scheme. To provide support, a toll-free helpline (1786) is also available.
During the launch event, Chief Minister Maryam Nawaz Sharif emphasized the importance of these programs in stimulating economic growth and empowering the youth. “Self-employment is key to creating opportunities and strengthening our economy,” she stated. She highlighted the government’s commitment to fostering innovation and increasing exports through these initiatives.
These schemes tackle financial challenges for aspiring entrepreneurs, boosting Punjab’s economy and ensuring growth for all.
