Punjab Asan Karobar Card: Interest-Free Loans Up to Rs10 Lakh for Entrepreneurs

The Punjab Asan Karobar Card is a new initiative launched by the Punjab government to empower small and medium businesses. Under this scheme, entrepreneurs across the province can access interest-free loans of up to Rs10 Lakh (1 million). The main goal is to encourage sustainable business growth, promote financial inclusion, and support entrepreneurs in managing expenses effectively.

This scheme is not just a financial aid package but also a step toward building a transparent digital economy. It makes business financing simple, structured, and accessible to ordinary citizens who want to expand their enterprises.

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Key Features of Punjab Asan Karobar Card

The Punjab Asan Karobar Card comes with several unique features that make it highly beneficial for entrepreneurs:

• Loan Limit: Up to Rs10 Lakh (1 million) available per business or entrepreneur.
• Usage Flexibility: Funds can be used for supplier payments, paying utility bills, clearing taxes, and managing business transactions digitally through POS systems or mobile apps.
• Cash Withdrawal: Up to 25% of the approved loan amount can be withdrawn in cash, strictly for business purposes.
• Disbursement in Stages: Loan released in two phases – 50% initially and the remaining after meeting compliance requirements.
• Repayment Terms: A 3-month grace period is provided. Repayments begin afterward with 5% monthly installments of the outstanding principal.

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Eligibility Criteria for Asan Karobar Card

To apply for the Punjab Asan Karobar Card, applicants must fulfill specific conditions:

• Age Limit: 21 to 57 years.
• Nationality: Must be a Pakistani national with a valid CNIC.
• Mobile Number: Active and registered on the applicant’s CNIC.
• Creditworthiness: Should not have overdue loans or a history of default.
• Verification: A psychometric and digital verification process is required.
• Application Limit: Only one loan per individual or business is allowed.

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Application Process for Punjab Asan Karobar Card

The application process has been designed to be simple and transparent:

1. Online Application: Visit the official PITB portal at akc.punjab.gov.pk.
2. Application Fee: A non-refundable fee of Rs500 is required.
3. Verification: Applications are verified by authorized agencies.
4. Loan Disbursement: 50% of the loan is released first, and the remaining amount is provided after proper usage compliance.

For assistance, applicants can contact the official helpline at 1786.

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Additional Benefits of the Punjab Asan Karobar Card

The scheme goes beyond financial support and offers added benefits to protect and guide entrepreneurs:

• Life Insurance Coverage: Borrowers enjoy life insurance protection.
• Personal Digital Guarantee: Ensures safety and reliability.
• Feasibility Support: Guidance available through PSIC and Bank of Punjab (BOP) websites.
• Grace Period: Provides three months of breathing space before repayments begin.

The annual fee for the card is Rs25,000 plus FED, which is deducted from the approved loan amount.

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Impact on Small Businesses and Economy

The Punjab Asan Karobar Card is expected to make a significant impact on the economy of the province. Small businesses often face difficulties in accessing bank loans due to high interest rates and lengthy procedures. This scheme provides them with a fair opportunity to expand without the burden of interest.

By encouraging entrepreneurs to use digital transactions, the government also promotes transparency and reduces dependency on cash. This step aligns with Pakistan’s vision of strengthening digital infrastructure and building a more documented economy.

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Statement from Punjab Chief Minister Maryam Nawaz

Chief Minister Maryam Nawaz highlighted that the scheme demonstrates the provincial government’s strong commitment to financial inclusion, digital growth, and economic development. She stated that small and medium-sized enterprises are the backbone of Pakistan’s economy, and supporting them will create jobs, encourage innovation, and promote self-reliance.

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Why Punjab Asan Karobar Card is a Game Changer

• It empowers young entrepreneurs who lack capital but have ideas.
• It ensures transparent fund usage with digital tracking.
• It provides equal opportunity for women and men to grow their businesses.
• It reduces dependency on informal moneylenders who often charge exploitative interest rates.
• It creates long-term growth by linking SMEs with formal banking and digital systems.

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Conclusion

The Punjab Asan Karobar Card is not just a loan scheme but a lifeline for small entrepreneurs across the province. With interest-free loans of up to Rs10 Lakh, life insurance coverage, feasibility support, and digital transaction benefits, the scheme addresses both financial and structural barriers faced by small businesses.

This initiative by the Punjab government is set to encourage entrepreneurship, strengthen the economy, and push Pakistan closer to a sustainable and digital future.