Punjab Rozgar Scheme
Punjab Rozgar Scheme
Small & Medium Enterprises are the back bone of a country’s economy, and their growth is one of the key factors of economic uplift. Despite their importance, these businesses lack access to financing options.
In order to give boost to this neglected sector, Government of Punjab has been working on various uplift initiatives which have been merged as a single scheme post-COVID. “Punjab Rozgar Scheme”, launched by Punjab Small Industries Corporation (PSIC) in collaboration with The Bank of Punjab aims to provide subsidized small business loans in the range of Rs. 100,000/- to Rs. 10,000,000/-
||20 to 50 years
- University/College Graduates with entrepreneurial skills
- Diploma / Certificate holder from TVET having technical / vocational training.
- Artisans and skilled workers
||Citizen of Pakistan, Resident of Punjab verified through CNIC
|Type of Business
||New & Existing Businesses
||Clean: Rs. 100,000/- to Rs. 1,000,000
Secured: Above Rs.1,000,000 up to Rs. 10,000,000
||2 to 5 years including 6 months grace period
|Debt: Equity Ratio
||For Males= 80:20
For Females, Transgender & Disabled= 90:10
|Up to Rs. 500,000/-:
Personal Guarantee of Borrower along with net worth statement
Above Rs. 500,000/- up to Rs. 1,000,000/-:
Personal Guarantee of borrower + (At least 01 Third Party Guarantee having collective net worth at least equal to the amount of loan OR Guarantee of Government Employee of BPS-10 and above.)
Net Worth may be in the form of Tangible Asset i.e Property or Vehicle ownership and may be assessed as follows:
a) Property may be valued at DC rate by the bank.
b) Property valuation may be established from Wealth Tax statement.
c) Evaluation by Pakistan Banks Association (PBA) approved evaluator
d) Vehicle valuation shall be Purchase price less Depreciation (10% for each passing year).
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, e-CIB of third party should be clean i.e it should not have any overdue or write off history.
Above Rs. 1,000,000/- up to Rs. 10,000,000:
Mortgage of Residential / Commercial / Industrial / Agricultural Property / Vehicle having clean title and clear access acceptable to the bank.
||All applications shall be submitted online through portal designated by PSIC
||Rs. 2,000/- (Non-Refundable)