The Punjab government has launched an exciting new initiative aimed at supporting young people in the province to start their own businesses. Named the Maryam Nawaz Karobar Card Loan Scheme, this program provides interest-free loans to help the youth establish small and medium-sized enterprises (SMEs). The initiative is designed to fight unemployment, promote entrepreneurship, and provide a chance for financial independence.
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Features of the Karobar Card Loan Scheme
The Maryam Nawaz Karobar Card Loan Scheme has been introduced with the goal of helping young people in Punjab become self-employed and contribute to the economic growth of the province. Here are the key features of the loan scheme:
- Loan Amount: Small businesses can receive loans ranging from PKR 100,000 to PKR 1,000,000, while medium-sized businesses can borrow up to PKR 3,000,000.
- Interest-Free: The loans are interest-free, making it easier for young entrepreneurs to pay them back.
- Repayment Period: Loans can be repaid over five years in easy installments, ensuring that businesses have enough time to grow before starting repayments.
- Purpose: The scheme is designed to empower young individuals, helping them create their own businesses and become financially independent.
Loan Amounts Breakdown
| Business Type | Loan Range |
| Small Business | PKR 100,000 – 1,000,000 |
| Medium-Sized Business | Up to PKR 3,000,000 |
How to Apply for the Loan Scheme
The registration process for the Maryam Nawaz Karobar Card Loan Scheme will start in January 2025. Although there is no official website or SMS code yet, the government will announce the details soon. To apply, the following main steps will be followed:
- Visit the Official Portal: Once the registration portal is live, applicants must visit the Punjab government’s official website to sign up.
- Provide Personal Details: During registration, applicants will need to enter personal details such as their name, CNIC number, contact information, and address.
- Submit Documents: Documents required include a copy of the CNIC, and any additional documents requested during registration.
- Balloting Process: After registration, a transparent balloting process will be used to select eligible applicants.
Eligibility Criteria for the Loan Scheme
To apply for the Maryam Nawaz Karobar Card Loan Scheme, applicants must meet the following eligibility criteria:
- Residency: Only residents of Punjab are eligible for this loan.
- Unemployed Youth: The scheme is aimed at unemployed young people who are looking to start their own businesses.
- Age Requirement: There may be an age limit, although details will be provided during the registration process.
Loan Distribution and Transparency
To ensure fairness and transparency, the Punjab government will distribute the loans through a balloting process. This system will give all eligible applicants an equal chance to receive financial support.
- Small Business Loans: For small businesses, loans ranging from PKR 100,000 to PKR 1,000,000 will be provided to help start ventures.
- Medium Business Loans: For medium-sized businesses, the loan amount can go up to PKR 3,000,000 to help scale up businesses.
This system ensures that every eligible applicant, regardless of their background, has an equal chance of being selected for a loan.
Benefits of the Scheme
The Maryam Nawaz Karobar Card Loan Scheme offers several benefits to young people in Punjab:
- Reduction in Unemployment: By encouraging entrepreneurship, the scheme helps reduce unemployment in the province.
- Financial Independence: Young individuals will gain the financial freedom to start and run their own businesses.
- Boost to the Economy: Small and medium-sized enterprises play a crucial role in boosting local economies, and this scheme will contribute to that.
- Promoting Entrepreneurship: The program fosters a culture of entrepreneurship and innovation among youth.
Benazir Hunarmand Programme to Empower Deserving Individuals
Conclusion
The Maryam Nawaz Karobar Card Loan Scheme is a great initiative to help young people in Punjab build their own businesses and reduce unemployment. By offering interest-free loans with easy repayment options, this program paves the way for youth to become financially independent and contribute to the economic growth of the province. If you’re a young person in Punjab with an entrepreneurial spirit, make sure to keep an eye out for the official registration announcements in January 2025
Loan business
Good opportunity thank you mruam nowaz