The loan process for the Punjab Rozgar Scheme has been made easy and so the interested ones can apply by signing up here with their CNIC number.
On Thursday, Chief Minister Usman Buzdar launched the Punjab Rozgar scheme worth Rs 30 billion that will provide jobs to 1.6 million needy people.
Chief Minister Usman Buzdar while giving the details, announced that loans from Rs100,000 to Rs10 million would be given at minimal interest rates in collaboration with Punjab Small Industries Corporation and the Bank of Punjab. The benefit would be given to those of 20 to 50 years of age, includes men, women, differently-abled, and the transgender community.
The provincial government aims to provide jobs to 1.6 million needy people through the Punjab Rozgar Scheme. The loan process has been made easy and so the interested ones can submit their application through the PSIC portal, Punjab Bank website, or Punjab Rozgar App, but some conditions are applied for the concessionary loans which have to be fulfilled first.
He further informed that 339 subsectors of 23 assorted sectors will be provided small loans, including 26 subsectors of the textile industry, to increase business, trade, and manufacturing in the province. This facility will be helpful in promoting the cottage industry and people will be able to expand their businesses by benefitting from this scheme.
Who can apply for Punjab Rozgar Scheme
- University/college graduates with entrepreneurial skill
- Diploma/certificate holder from TVET having technical/vocational training.
- Artisans and skilled workers
- Existing businesses (However, preference will be given to existing businesses in wake of the current COVID-19 pandemic)
- Micro and other enterprises that apply for a loan to adopt resource-efficient and cleaner production technologies or any green/environment-friendly intervention to improve the environmental performance of their operations.
- Citizen of Pakistan, Resident in Punjab, verified through CNIC
- Business Location: Punjab
- Sole Proprietor, Partnership, or any business fulfilling other eligibility criteria
- Must have a clean e-CIB/Credit History
- For startups/new businesses (Having a viable business plan)
- For existing businesses (Having a viable business plan with a focus to sustain the impact of COVID-19)
- Having valid CNIC
- Any other parameter to be set by Punjab Small Industries Corporation (PSIC)/Government