Punjab Government Karobar Card Scheme

Maryam Nawaz Sharif, the Chief Minister of Punjab, has launched the Punjab Government Karobar Card Scheme for Punjab’s unemployed. Through this initiative, Punjab Chief Minister Maryam Nawaz Sharif hopes to encourage young people to start enterprises by offering loans ranging from 1 lakh to 30 lakh rupees Punjab Government Karobar Card Scheme.

The Punjab government claimed that loans would be offered to youth based on their business needs. For young people who want to start small businesses, the government has given a credit cap of 1 lakh to 10 lakh rupees. The loan amount for those wanting to build medium-sized firms has been fixed at 30 lakh rupees.

This page details eligibility, registration, and loan amounts under the Punjab Government Karobar Card initiative. Learn how to secure a loan of up to Rs 30 lakh.

Benefits of the Punjab Government’s Karobar Card Scheme

Punjab Chief Minister Maryam Nawaz Sharif emphasized that fostering enterprise growth in Punjab will strengthen the economy, create jobs, and drive societal progress, enabling citizens to contribute to the province’s development.

The Punjab government offers unemployed individuals the opportunity to apply online for the Karobar Card Scheme and receive loans of up to Rs 30 lakh.It is vital to note that this loan is just for functioning enterprises. To benefit from this scheme, your organization must have a well-defined plan.

Eligibility criteria for the Punjab Government Karobar Card Scheme.

Punjab Chief Minister Maryam Nawaz Sharif announced that the government will provide loans of Rs 1–30 lakh to eligible Punjab youth, enabling unemployed individuals to start their own businesses. She also outlined the eligibility criteria for the scheme.

• Applicants must have a Punjab domicile.
• Age above 18 years.
• A legitimate National Identity Card issued by the government of Pakistan.
• The candidate must not be participating in any other loan scheme offered by the Punjab government.
• The candidate must not have engaged in any criminal behavior.
• The applicant should not already own a business.

Step-by-Step Guide to Obtaining the Loan

The Punjab government has failed to launch a registration website. The registration process will start in January 2025. Interested kids must supply their documents and information, such as their National Identity Card number, personal details, bank account information, family details, and monthly income.

The Punjab government will review, register unemployed youth for the Karobar Card Scheme, and distribute loans via a ballot. Stay updated on registration and announcements through our website and social media.

Maximum Loan Amount and Repayment Terms

The government has declared that it will provide loans ranging from Rs 1 lakh to Rs 30 lakh to unemployed youth in Punjab, repayable in installments over five years. Maryam Nawaz Sharif promised that the installments would be reasonable, making it simpler for middle-class unemployed people to repay. The Punjab government has promised to provide loans of up to 10 lakh rupees for small enterprises and 30 lakh rupees for medium-sized businesses.

Frequently Asked Questions (FAQ)

What is the Punjab Government’s Karobar Card Scheme?

Maryam Nawaz Sharif, Chief Minister of Punjab, inaugurated a credit initiative to assist unemployed youngsters in starting companies with loans ranging from 1 lakh to 30 lakh rupees.

When will the registration procedure begin?

The registration process will start in January 2025.

How can I sign up for the Punjab Government Karobar Card Scheme?

Interested applicants must present the following documents: their National Identity Card, bank account information, and monthly income.

What is the maximum loan amount under the Punjab Government’s Karobar Card Scheme?

For small firms, loans vary from 1 lakh to 10 lakh rupees, while medium-sized businesses can borrow up to 30 lakh rupees.

How will the loans be distributed?

Loans will be disbursed via a transparent balloting procedure.

What are the loan repayment terms?

Loans are repayable in five years’ worth of easy installments.

Can the loan be used for reasons other than business?

No, the loan is only for founding and running businesses.

Summary

The Punjab Government Karobar Card Scheme gives youth the best opportunity to start their own businesses. Punjab Chief Minister Maryam Nawaz Sharif announced a loan scheme offering Rs 1–10 lakh for small businesses and up to Rs 30 lakh for medium enterprises. The initiative aims to empower unemployed youth to start their own businesses, boosting the economy and creating jobs. Registration begins in January 2025, requiring a national ID, bank details, and income proof.

The Punjab government will conduct a draw to transparently distribute loans after registration.The Punjab government offers a five-year repayment loan, ideal for unemployed middle-class individuals. Join the scheme, secure a loan, and start your journey to self-sufficiency.