Punjab launches Chief Minister Asan Karobar card

The Punjab government has launched, Chief Minister Asan Karobar card, finance initiative to provide interest-free loans to Small and Medium Enterprises (SMEs).

Chief Minister Maryam Nawaz inaugurated the scheme, which offers loans ranging from Rs1 million to Rs30 million, repayable in easy installments.

Speaking at the launch event, the chief minister emphasized that it was a huge initiative for the first time in Punjab’s history that offers loans up to Rs30 million without interest.

Moreover, she claimed that the loan seekers would not require NOC, license, or an approved plan. “Apply today and start your business tomorrow,” she added.

The loans are given with the assistance of the Bank of Punjab and include subsidized land for small business setups.

Eligibility Criteria

• The applicant should:
  Age 21 to 57 years old
• CNIC, mobile number and registration proof valid.
• Have or be planning to start a business in Punjab.
• Tax filer and having no bad credit
• Provide proof of business and residence.

Required Documents

• CNIC, Passport Size Photograph
• Tax filing evidence
• Income and expenses statements
• Property or rent agreement.
• References’ CNICs and contacts

How to Apply

1. Registration: Registration on PITB portal via your CNIC-linked number

2. Application: Online application (15 minutes required)

3. Fee Payment: Non-refundable processing fee of Rs5,000 for Tier 1 and Rs10,000 for Tier 2

4. Document Submission: Required documents shall be uploaded.

5. Track Application: Status update through SMS

Loan Tiers

Tier 1: Loans from the range of one million to five million. There is a Rs5,000 fee.

Tier 2: Loans between Rs6 million and Rs30 million (Rs10,000 fee).
Both tiers provide interest-free loans with a five-year repayment period.

Chief Minister Asan Karobar card

The SME card can be used to pay for vendors, utilities, and government dues. Cash withdrawal is allowed up to 25% of the limit. The borrower must get registered with PRA/FBR within six months of receiving the card.