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The CM Punjab Karobar Card Program 2025 is a groundbreaking initiative aimed at empowering small entrepreneurs in Punjab. This program provides financial support to help businesses grow without the stress of interest payments. By utilizing advanced digital systems, such as mobile apps and point-of-sale (POS) systems, it ensures transparency and ease of use for all applicants. In this article, we explain the complete process to avail of this program.
Table of Contents
Key Features of the CM Punjab Karobar Card
This scheme offers several unique benefits tailored to meet the needs of small business owners:
Loan Amount
- Entrepreneurs can borrow up to PKR 1 million.
Loan Tenure
- The loan duration is three years.
Interest-Free Financing
- Borrowers pay 0% interest, reducing financial burdens.
Flexible Repayment Terms
- For the first 12 months, it works as a revolving credit facility.
- Afterward, the amount must be repaid in 24 equal monthly installments.
Grace Period
- A 3-month grace period is offered after the card is issued before repayments begin.
Digital Transactions
- Payments can be made through mobile apps and POS systems, ensuring seamless fund usage.
Also Check: CM Punjab Maryam Nawaz Asaan Karobar Program 2025 Online Registration
Eligibility Criteria for Asaan Karobar Card
To apply for the Karobar Card, applicants must meet the following conditions:
- Age Limit: 21 to 57 years.
- Residence: Must be a resident of Punjab, Pakistan.
- Valid Identification: A valid CNIC and a mobile number registered in the applicant’s name are required.
- Business Status: The applicant must own or plan to start a business in Punjab.
- Credit Assessment: Clean credit history and no overdue loans are mandatory.
- Assessment Tests: Applicants must pass credit and psychometric evaluations.
- One Application Only: Each person or business can apply only once.
How to Apply for the Karobar Card?
Applying for the CM Punjab Karobar Card is simple and entirely digital:
- Visit the official PITB portal: akc.punjab.gov.pk.
- Complete the online application form.
- Pay a non-refundable processing fee of PKR 500.
- Submit the required details and wait for approval.
Loan Usage Guidelines
This program ensures that funds are used strictly for business purposes. Below are the allowed uses:
- Vendor and Supplier Payments: Ensure smooth operations by paying suppliers.
- Utility Bills: Cover essential business costs like electricity, gas, and water bills.
- Government Fees and Taxes: Meet regulatory requirements effortlessly.
- Cash Withdrawals: Up to 25% of the loan amount can be withdrawn for miscellaneous business expenses.
Repayment Details
The repayment terms are designed to be flexible and convenient:
- First Limit Utilization: Borrowers must use 50% of the loan within the first six months.
- Grace Period: A 3-month break before repayments start.
- Installments: Monthly payments begin after the grace period, with a minimum of 5% of the outstanding balance.
Charges and Fees
The program includes some charges to maintain transparency and proper fund management:
- Annual Card Fee: PKR 25,000 + FED, deducted from the loan amount.
- Additional Costs: Cover life insurance, card issuance, and delivery charges.
- Late Payment Penalty: Applied as per the bank’s policy.
Security and Verification
The CM Punjab Karobar Card prioritizes the security of its users through the following measures:
- Personal Guarantee: A digitally signed guarantee by the borrower is required.
- Life Insurance: Included for borrower protection.
- Business Verification: Physical verification of the business location within six months of approval, conducted by Urban Unit.
Key Conditions for Borrowers
- Funds can only be used for core business activities.
- Registration with PRA (Punjab Revenue Authority) or FBR (Federal Board of Revenue) is mandatory within six months of receiving the card.
Additional Support for Entrepreneurs
To support startups and new businesses, feasibility reports and business plans are available on the official websites of PSIC and the Bank of Punjab (BOP). This helps entrepreneurs make informed decisions about using the loan effectively.
Summary
The CM Punjab Karobar Card Program 2025 is a visionary scheme designed to uplift small entrepreneurs in Punjab. With its interest-free loans, digital tools, and user-friendly process, the program is a game-changer for businesses looking to grow. Whether you are starting a new venture or expanding an existing one, this program provides the financial and technical support you need to succeed.
Frequently Asked Questions (FAQs)
What is the CM Punjab Karobar Card Program?
The CM Punjab Karobar Card Program 2025 is an initiative by the Punjab government to provide interest-free loans and digital tools to small entrepreneurs, helping them start or expand their businesses.
What is the maximum loan amount under this program?
Entrepreneurs can borrow up to PKR 1 million through the Karobar Card.
Is the loan completely interest-free?
Yes, the loans provided under this program are completely interest-free, reducing financial stress for borrowers.
What is the tenure of the loan, and how is it repaid?
The loan tenure is three years. Borrowers can use it as a revolving credit facility for the first 12 months and then repay the amount in 24 equal monthly installments.
What are the eligibility criteria for applying?
The applicant must:
- Be 21 to 57 years old.
- Be a resident of Punjab.
- Own or plan to start a business in Punjab.
- Have a clean credit history.
- Pass credit and psychometric assessments.
How do I apply for the CM Punjab Karobar Card?
You can apply by visiting the official PITB portal at akc.punjab.gov.pk, completing the online application form, and paying a processing fee of PKR 500.
What business expenses are covered under this program?
Funds can be used for:
- Vendor and supplier payments.
- Utility bills.
- Government fees and taxes.
- Miscellaneous business expenses (up to 25% of the loan amount).
Is there a grace period before repayments begin?
Yes, there is a 3-month grace period after the card is issued before repayment starts.
What additional charges apply to the loan?
- Annual card fee: PKR 25,000 + FED.
- Costs for life insurance, card issuance, and delivery.
- Late payment penalties as per the bank’s policy.
What happens after I receive the Karobar Card?
- You must use 50% of the loan within the first six months.
- Register with the Punjab Revenue Authority (PRA) or Federal Board of Revenue (FBR) within six months.
- Physical verification of your business location will be conducted by the Urban Unit within six months of approval.
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