Chief Minister Maryam Nawaz has launched the registration process for the Asaan Karobar Card Program 2025. The program is designed to provide interest-free loans to small business owners in Punjab, with the aim of promoting business growth and the economy. Loans of up to Rs 1 crore are available under the scheme, which will be provided transparently through a mobile app and digital channels.
The key features of the program include a loan tenure of 3 years, a grace period of 3 months, and interest-free loans. Small business owners can use these loans to pay suppliers, utility bills, and other business needs. Applicants for registration must be a residents of Punjab, between the ages of 21 and 57, and have a registered mobile number with good credit history.
The registration process for the Asaan Karobar Card Program is completely digital and applications can be submitted on the online portal. Applicants will have to submit a registration form with their identity information, business details, and a strong password. This scheme is a revolutionary step for small entrepreneurs that will help in their economic development.
About the Asaan Karobar Card Program
The Asaan Karobar Card Program 2025 is an innovative scheme aimed at fostering entrepreneurship in Punjab. With interest-free loans of up to PKR 1 million, the program enables small entrepreneurs to expand their businesses without the burden of high interest rates. The program’s foundation lies in digitalization, ensuring smooth, secure, and transparent transactions through mobile apps and POS systems.
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Key Features
- Maximum Loan Limit: Entrepreneurs can avail of loans up to PKR 1 million.
- Loan Tenure: A total duration of 3 years, with a revolving credit facility for the first 12 months.
- Repayment Plan: Repayments commence after a grace period of 3 months. Borrowers must pay 24 equal monthly installments after the first year.
- End-User Interest Rate: The loans are completely interest-free (0%)
Usage Flexibility:
- Payments to vendors and suppliers.
- Utility bills, government fees, and taxes.
- Cash withdrawals (up to 25% of the limit) for miscellaneous business purposes.
- Digital transactions via POS or the mobile app.
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Eligibility Criteria for Asaan Karobar Card
The program is tailored to support small entrepreneurs in Punjab. To qualify, applicants must meet the following criteria:
- Age Requirement: Applicants must be between 21 and 57 years old.
- Residency: Only Pakistani nationals residing in Punjab are eligible.
- Valid Documentation: A CNIC is registered in the applicant’s name and An active mobile number.
- Business Location: The business must be located in Punjab.
- Creditworthiness: Applicants must have a satisfactory credit and psychometric assessment.
- Restrictions: Only one application is allowed per individual or business and the applicant must not have overdue loans or a poor credit history.
Loan Usage and Repayment Details
Fund Allocation
- First 50% Limit:
- Available for use within the first 6 months.
- Borrowers can utilize this portion for immediate business needs such as vendor payments and utility bills.
- Second 50% Limit:
- Released after demonstrating satisfactory usage of the initial funds.
- Regular repayments and mandatory registration with PRA/FBR are required to unlock the second installment.
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Repayment Terms
- Grace Period: Borrowers enjoy a 3-month grace period after card issuance.
- Installments: Minimum monthly payments of 5% of the outstanding balance (principal portion only).
- Final Repayment: After the first year, the remaining balance is repaid in equal monthly installments over two years.
Charges and Fees
- Annual Card Fee: PKR 25,000 plus FED (deducted from the approved limit).
- Other Charges: Life assurance and Card issuance and delivery.
- Late Payment: Delays in installment payments will incur late charges as per the bank’s policy.
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Registration Process
The registration process for the Asaan Karobar Card Program is simple and fully digital. Entrepreneurs can apply online through the Punjab Information Technology Board (PITB) portal.
Step-by-Step Guide
- Access the Registration Page: Visit the official portal by entering akc.punjab.gov.pk/userProfile/new in your browser.
- Filling Out the Application Form:
- Enter your full name as it appears on your CNIC.
- Provide your CNIC number along with its issuance and expiry dates.
- Include your father’s or husband’s name and your date of birth.
- Select your mobile network and enter your active number for verification purposes.
- Set a strong, memorable password and confirm it.
- Error Handling:
- Ensure all fields are correctly filled to avoid errors such as “Password does not match.”
- Submitting the Application:
- Double-check your details and click the “Register” button to complete the process.
Tips for Successful Registration
- Cross-verify all entries to ensure accuracy.
- Provide a valid and active mobile number.
- Use a strong password to secure your account.
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Security and Conditions
To ensure the program’s integrity, strict security measures and conditions have been implemented:
- Borrowers must digitally sign a personal guarantee.
- Life assurance is included for all participants.
- The Urban Unit will verify business premises within six months of loan approval and conduct annual reviews.
- Loan usage is limited to core business activities; non-essential transactions are blocked.
- Borrowers must register with PRA/FBR within six months of receiving the card.
Additional Support about the Asaan Karobar Card Program
The program also provides supplementary resources to aid entrepreneurs:
- Feasibility Studies: Available on the PSIC and BOP websites to help startups and new businesses develop viable plans.
- Structured Guidance: Entrepreneurs can access resources to ensure optimal use of funds and compliance with program conditions.
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FAQs about Asaan Karobar Card Program
Who is eligible for the Asaan Karobar Card Program?
Any small entrepreneur aged 21–57, residing in Punjab, with a valid CNIC and a clean credit history, is eligible.
What is the maximum loan amount?
Entrepreneurs can avail of interest-free loans up to PKR 1 million.
How long is the loan tenure?
The total loan tenure is 3 years, with repayments starting after a 3-month grace period.
What are the charges associated with the card?
An annual fee of PKR 25,000 + FED, along with life assurance and card issuance charges, are applicable.
Can I apply if I already have a business loan?
No, applicants must not have overdue loans or a poor credit history to qualify.
Conclusion
The Asaan Karobar Card Program 2025, announced by CM Maryam Nawaz, is a transformative step toward empowering small entrepreneurs in Punjab. By providing interest-free loans and leveraging digital channels, the program aims to foster economic growth and stability for small businesses.
With a simple registration process, transparent operations, and strict guidelines, this initiative is poised to make a significant impact on the lives of countless entrepreneurs. If you meet the eligibility criteria, don’t miss this opportunity to grow your business and contribute to Punjab’s economic development.