CM Punjab Asaan Karobar Card 2025
The Asaan Karobar Card is a groundbreaking initiative by the Punjab government aimed at supporting small and medium-sized enterprises (SMEs) by providing interest-free loans. This program is designed to help entrepreneurs start or expand their businesses, contributing to the economic growth of the region.
Key Features of Asaan Karobar Card
- Loan Amount: Obtainable up to PKR 1 million (10 Lakh) .
- Loan Tenure: Spanning 3 years.
- Grace Period: A 3-month interval post-issuance before initiating repayments.
- Repayment Terms: Structured as 24 equal monthly installments following the grace period.
- Interest Rate: 0% for the borrower.
Permitted Loan Utilizations
- Transactions with vendors and suppliers.
- Payment of utility bills, governmental fees, and taxes.
- Cash withdrawals, limited to 25% of the loan amount, for miscellaneous business expenses.
- Digital payments via Point of Sale (POS) systems and mobile applications.
Application Procedure
Online Registration:
• Navigate to the official portal: akc.punjab.gov.pk.
• Register by providing your mobile number.
Application Form Submission:
• Fill out the form with accurate personal and business details.
• Upload necessary documents, including your CNIC, a recent photograph, and business-related paperwork.
Processing Fee:
• Submit a non-refundable fee of PKR 500.
Application Finalization:
• Review your information for accuracy and submit the application.
• A registration number will be assigned for tracking.
Fees and Charges
- Annual Card Fee: PKR 25,000 plus Federal Excise Duty (FED), deducted from the approved loan limit.
- Additional Costs: Include life insurance, card issuance, and delivery fees, all covered by the scheme.
- Late Payment Penalties: Subject to the bank’s established policies.
Security and Verification
- A personal guarantee, digitally signed by the borrower.
- Inclusive life insurance coverage.
- Physical verification of the business premises within six months of loan approval, with subsequent annual inspections.
Essential Conditions
- Loan funds must be used exclusively for business-related purposes; personal expenditures are restricted.
- Mandatory registration with the Punjab Revenue Authority (PRA) or Federal Board of Revenue (FBR) within six months of card issuance.
- Only one application per individual or business entity is permissible.
Application Deadline
- The application window for the 2025 cycle concluded on January 31, 2025. Prospective applicants should monitor the official portal for announcements regarding future application periods.
For assistance, contact the helpline at 1786.
Also Read: Punjab Government Opens Wheat Trade Across Provinces
