Punjab Rozgar Scheme 2023

Punjab Rozgar Scheme 2023

    • Punjab Rozgar Scheme 2023 Application form
    • How To Apply For Punjab Rozgar Scheme 2023
    • Eligibility Criteria for Punjab Rozgar Scheme 2023
    • Terms & Conditions
    • Important Instructions For Applying

Punjab Rozgar Scheme 2023 Application form

To help young people become independent entrepreneurs in 2023, the Punjab government introduced a program called Punjab Rozgar Scheme 2023. The youth will receive a large sum of money under this program, enabling them to apply for the Punjab Employment Scheme right away. On the advice of Pakistan, the Chief Minister of Punjab actually took specific efforts to support the youth. Punjab Employment Scheme 2023 is only available to Pakistani citizens.

The Punjab Small Industries Corporation (PSIC) is a nonprofit corporation with the goal of promoting small-scale and cottage industries in the province. It was founded in accordance with the PSIC Act of 1973 and operates under the administrative supervision of the Punjab Government’s Department of Industries, Commerce, Investment, and Skills Development. issuing credit cards to designated banks through lending to industries construction of infrastructure business consulting challenge channels for marketing Basic amenities creation of craft-related colonies design studios Workshops and organizations for promoting and providing access to its crucial duties for the growth of handicrafts Is.

However, they wish to support Pakistan’s concept of self-employment. First and foremost, the Punjab government has stated that it will give young people a free loan of 30 billion rupees. To address this, the government has kept the Punjab Green Development Loan program going.

The development of small and medium-sized businesses, which form the foundation of any nation’s economy, is one of the main drivers of economic expansion. Businesses lack access to funding choices despite their significance. Because the Covid-19 outbreak scenario has ruined the nation’s economy and policy in the light of the current situation. Also available to you is an Ehsaas Interest-Free Loan.

How To Apply For Punjab Rozgar Scheme 2023

If you want to apply for Punjab Rozgar Scheme 2023, here is complete guidance on how to apply for Punjab Rozgar Scheme.

  • First of all, register yourself on the portal  ( Click Here )
  • Just fill out the form to apply Rozgar scheme.
  • You need to enter Your name which is on your CNIC.
  • Then enter your Email address.
  • Enter Your CNIC number and Confirm it.
  • Then create a strong password and don’t share it with anybody.
  • Make sure everything is real that you had entered.
  • Then click the register Button.

Eligibility Criteria for Punjab Rozgar Scheme 2023

The following eligibility criteria will be adhered to to process the loans under Rozgar Scheme:

  • Age:  20 to 50 years.
  • Gender: Male / Female / Transgender
  • Resident: Must be a citizen of Pakistan and a permanent resident in Punjab,
  • Business Location: Punjab
  • Business Type: Sole Proprietor, Partnership, or any business fulfilling other eligibility criteria
  • Must have a clean e-CIB / Credit History
  • For startups / new businesses and having a viable business plan in case of new business.
  • For existing businesses, you must have a viable business plan with a focus to sustain the impact of COVID-19
  • Having Valid CNIC
  • Any other parameter to be set by Punjab Small Industries Corporation (PSIC) / Government.

Terms & Conditions

FEATURE DESCRIPTION
Loan limit
Upto Rs. 10.00 MillionClean lending: from Rs. 100,000/- to Rs. 1,000,000/-
Secured lending: from Rs. 1,000,001/- to Rs. 10,000,000/-Under Punjab Green Development Program, the limit of a loan will remain the same. However, preference will be given to the micro-enterprises, ready to adopt the environment-improving technology, having up to 10 numbers of employees.
Purpose of loan
Setting up of new business
Balancing, Modernization, and Replacement (BM&R) for existing businesses
Working Capital
MSME Sector
Manufacturing, Service, Trading, Agriculture, and Live Stock
(Environment Friendly / Quality Improving Micro Enterprises as defined above will also be considered under the Punjab Green Development Program)
Processing fee
Rs. 2000/- (non-refundable) at the time of submission of the application
Tenure of Loan / Repayment Period From 02 to 05 years including a grace period
Grace period
Up to Six (06) Months (However, the markup will be charged during the grace period)
Type of loan Term loan as per bank policy and working capital
Cost of Capital
Cost of Capital to be paid by Borrower:
4% for clean lending
5% for secured lending
Debt: Equity
80:20 (For males)
90:10 (Women, Transgender and Differently abled)
(Meaning thereby 20% / 10% of the project cost will be invested by the borrower)
Disbursement of loans In installment(s) as per the approved business plan
Security of loan
1. Security for Clean Lending
i. Security for loan limit from Rs. 100,000/- to Rs. 500,000/-
Personal Guarantee of the borrower along with the net worth statement.
ii. Security for loan limit from Rs. 500,001/- to Rs. 1,000,000/-
· Personal Guarantee of the borrower along with at least one, Third Party guarantor with overall net worth collectively equal to the size of the loan applied.
(Third Party should be a citizen of Pakistan and resident of Punjab having a valid CNIC and must not be older than 55 years. Moreover, the e-CIB of the third party should be clean i.e. it should not have any overdue or write-off history)
OR
· Guarantee of Government employees of BS-10 and above along with a personal guarantee of the borrower.
(Departmental guarantee of the government employee will be mandatory)
Net Worth / Wealth Description and Calculation Criteria:
· Net Worth may be in the form of Tangible Assets i.e Property or Vehicle ownership and may be assessed as follows:
a. Property may be valued at respective DC rate.
OR
b. Property valuation may be established from the Wealth Tax statement.
OR
c. Evaluation by Pakistan Banks Association (PBA) approved evaluator/agent
OR
d. Vehicle valuation shall be invoice price less depreciation (10% for each passing year).
2. Security for loan limit from Rs. 1,000,001/- to 10,000,000/-
Mortgage of Assets
Asset description
a. Residential / Commercial / Industrial / Agricultural Property/vehicle has a clean title and clear access (acceptable to the bank) and is valued by banks approved appraiser as per the bank’s policy.
b. The property should be in the name of the borrower or blood relative of the individual/proprietor/partners.
c. Documentation shall be as per bank credit policy / legal division. Charge/hypothecation on fixed / current assets as per internal/external regulations.

Punjab Rozgar Scheme 2023

Important Instructions For Applying

To apply Punjab Employment Scheme you have to follow the following instructions:

  • You must have a photo of yourself showing your full face
  • You must have a front and back photo of your ID card to apply for it
  • And the degree you have completed should be your matric certificate, intermediate certificate, bachelor’s certificate, master’s and Ph.D., etc.
  • The business you want to apply for should include your experience
  • And the security documents should be documented
  • To initiate this application you must have a registered mobile number on which your bank can contact you
  • You can complete and submit one or more forms
  • Please upload as much information as you have, business documents, your daughter’s last six months’ bank statement, etc. to help us evaluate your application better.
  • Once the form is submitted, your application registration number will be displayed on ARN and you will also receive an SMS. Please save it.
  • You should visit any branch of Bank of Punjab POB near you along with your application registration number ARN where after depositing Rs.2000 per pressing your application will be processed.
  • A new application can be made only if your first application has been rejected or you have completed the loan you previously obtained.

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