In a groundbreaking initiative aimed at promoting small and medium-sized enterprises (SMEs), the Punjab Government has announced the launch of the ‘Karobar Card’ Scheme. The decision, spearheaded by Chief Minister Maryam Nawaz during a meeting in Lahore, marks a significant step towards empowering entrepreneurs and fostering economic growth in the province.
Key Features of the ‘Karobar Card’ Scheme
The scheme is designed to provide financial support to small business owners, with loans ranging from PKR 100,000 to PKR 1 million. This financial assistance aims to enable entrepreneurs to scale their businesses, explore new opportunities, and contribute to the provincial economy.
In addition, the government has introduced the ‘Chief Minister Aasan Karobar Financing Scheme’, targeted at medium-level businesses. Under this initiative:
- Loans of up to PKR 30 million will be provided.
- The repayment period will be spread over five years, making it a flexible option for growing businesses.
Prioritizing IT Startups
Recognizing the importance of technology in today’s economy, the government has prioritized loans for IT startups in the Nawaz Sharif IT City. This focus is expected to boost innovation, enhance tech-driven solutions, and create high-paying jobs in the IT sector.
Sectors Excluded
While the scheme is inclusive, it comes with certain restrictions. The loans cannot be used for ventures in 10 specific areas, including the restaurant industry. This ensures that funds are directed towards sectors with the potential for long-term economic impact.
Empowering Employment and Growth
Chief Minister Maryam Nawaz emphasized that the scheme will enhance employment opportunities and contribute significantly to the business and industrial sectors in Punjab. By offering financial aid and prioritizing emerging industries, the initiative aims to build a thriving entrepreneurial ecosystem in the province.
Stay tuned to BridesandYou.com for more updates on this initiative and other government programs empowering citizens.