Punjab CM To Launch Karobar Card Scheme To Promote Small Businesses

Abdullah Hussain (@Abdulla99267510) Published December 07, 2024 | 03:30 PM

Maryam Nawaz calls for a comprehensive plan for a small and medium loan scheme

LAHORE: (UrduPoint/UrduPoint / Pakistan Point News-Dec 7^th, 2024) Punjab Chief Minister Maryam Nawaz Sharif on Saturday decided to launch a “Karobar Card” scheme to promote small businesses in the province.

During the meeting, Punjab Chief Minister Maryam Nawaz called for a comprehensive plan for a Small and Medium Loan Scheme.

A separate “Chief Minister Easy business Financing Scheme” would also be introduced to support medium-sized enterprises.

The Business Card Scheme would provide loans ranging from Rs100,000 to Rs. 1 million, while the “Chief Minister Easy Business Financing Scheme” proposes loans of up to Rs. 30 million.

The decision was made to offer interest-free loans under the Small and Medium Loan Scheme, and separate zones for small and medium industries would be designated in major cities.

A proposal to provide loans on a priority basis to selected commercial sectors was also came under discussion. A three-month grace period would also be offered after disbursement of the first installment of the loan.

Under the “Chief Minister Easy Business Financing Scheme,” the repayment period would extend to five years. The Business Card would not be usable for payments in 10 specified areas including restaurants.

The priority would be given to the IT startups in Nawaz Shairf IT City.