Lahore: Punjab Chief Minister Usman Buzdar on Thursday inaugurated the Punjab Rozgar Scheme, under which accessible loans of worth PKR 30 billion will be offered to micro, small and medium-scale businesses and young entrepreneurs, according to news sources.
These loans will help existing businesses and new startups to mitigate the adverse impact of the COVID-19 pandemic.
How to apply for the Punjab Rozgar Scheme?
To apply for the Punjab Rozgar Scheme, interested applicants can sign up with their computerised national identity card (CNICs) on https://rozgar.psic.punjab.gov.pk/. A non-refundable fee of PKR 2,000 also has to be submitted with each application.
Only residents of Punjab are eligible for the program, with applicants including men, women, transgender and differently-abled people between the ages of 20 and 50 with a clean credit history. Reportedly, the said loans will be offered under the following categories:
- Businesses operational in Punjab, working as a sole proprietorship or partnership
- Diploma or Certificate holders from Technical and Vocational Education and Training (TVET)
- University/college Graduates with entrepreneurial skills
- Artisans and skilled personnel
- Existing businesses (especially those affected by COVID-19)
- Startups with feasible business plans
- Micro and other entrepreneurs/enterprises with resource-efficient and environmentally-friendly interventions or production technologies
Additionally, the Punjab Rozgar Scheme is expected to primarily focus on trade, manufacturing, agriculture, service-based initiatives and livestock sectors. The easy loans given under this scheme will range between PKR 100,000 to PKR 10,000,000, for a duration of 2 to 5 years.