Who can apply for the Punjab Rozgar Scheme? – Business & Finance

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The Punjab Rozgar Scheme is the flagship initiative of the Punjab government. This program will provide credit facilities to micro, small and medium enterprises and start-ups in collaboration with commercial banks to overcome the adverse effects of the COVID-19 pandemic. It hopes to offer easy loans worth more than Rs 30 billion.

Job generation

The Punjab Rozgar Scheme aims to generate employment opportunities for young people by creating opportunities and finance to participate in economic activities. This program is designed with a particular focus on university graduates with entrepreneurial skills and technical training, as well as existing businesses affected by the pandemic, and hopes to generate 1.6 million jobs in the economy.

Eligibility criteria

Men, women, transgender people and people with disabilities between the ages of 20 and 50 are eligible for this program. The applicant must be a citizen of Pakistan and a resident of Punjab verified by a valid CNIC. Additionally, the applicant must also have a clean e-CIB/credit history.

Easy loans will be offered to the following categories of applicants:

  • University or college graduates with entrepreneurial skills;
  • Holders of a TVET diploma or certificate with technical or vocational training;
  • Craftsmen and skilled workers;
  • Existing businesses (preference will be given to those impacted by COVID-19);
  • Startups with viable business plans;
  • Micro and other enterprises or entrepreneurs with resource efficient and environmentally friendly production interventions or technologies to improve the environmental performance of their operations.

The business enterprise must be located in Punjab and must be a sole proprietorship, partnership or a company that meets other eligibility criteria. Startups or new businesses should have a viable business plan, while existing businesses’ business plan should focus on sustaining the impact of COVID-19. The program will place more emphasis on trade, manufacturing, services, agriculture and livestock sectors.

The Punjab Small Industries Corporation will implement the Punjab Rozgar Scheme. An easy loan granted under this scheme can range from Rs 100,000 to Rs 10,000,000 with the lowest mark-up rate. The term of the loan will be approximately 2 to 5 years.

How to register?

Candidates can apply for the Punjab Rozgar Scheme 2020 here by registering with their CNIC. A non-refundable fee of Rs.2000 must be submitted with the application.

Also read about CM Buzdar inaugurating the Punjab Rozgar Scheme here.

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