LAHORE/ISLAMABAD: The Government of Punjab has introduced the Asan Karobar Card Scheme, a landmark initiative to support small entrepreneurs. The scheme offers interest-free loans of up to PKR 1 million, designed to encourage sustainable growth and financial inclusion. Through a digital SME card, the government ensures transparent and structured fund utilization.
Key Features of the Scheme
The card provides a loan limit of up to PKR 1 million with a tenure of three years. Borrowers will access revolving credit during the first year. Repayment begins after a three-month grace period, spread across 24 equal monthly installments. Importantly, the scheme carries a zero percent interest rate. Entrepreneurs can pay suppliers, utility bills, and taxes through digital transactions, either by POS or mobile app. Additionally, they may withdraw up to 25 percent of the loan limit in cash for business purposes.
Eligibility Criteria
Applicants must be small entrepreneurs operating in Punjab, either existing or aspiring. They should be between 21 and 57 years of age and hold a valid CNIC and mobile number. Applicants must also be creditworthy, with no overdue loans. Further, candidates are required to pass a psychometric test and digital verification. Each applicant or business can only submit one application.
Application and Processing
Applications are submitted digitally via the PITB portal with a non-refundable fee of PKR 500. Verification of CNIC, business credentials, and creditworthiness will be carried out by authorized agencies. The approved loan is disbursed in two phases: the first 50 percent within six months, and the remaining 50 percent after meeting usage and registration requirements with PRA or FBR.
Repayment and Support
Borrowers receive a three-month grace period before repayment begins. They must pay at least five percent of the outstanding balance monthly. Non-business-related transactions remain restricted. An annual card fee of PKR 25,000 plus FED is deducted from the approved loan limit. Security includes a digital personal guarantee and life assurance coverage. Moreover, feasibility studies are available on the PSIC and Bank of Punjab websites. For assistance, applicants can call the official helpline at 1786.
Driving Financial Inclusion
The Asan Karobar Card reflects Punjab’s commitment to strengthening small businesses and accelerating economic growth. By providing affordable credit and digital infrastructure, the government aims to empower entrepreneurs and boost productivity across the province.
