CM Punjab Asaan Karobar Card Program 2025 Online Registration akc.punjab.gov.pk

The CM Punjab Asaan Karobar Card Program 2025 offers a transformative opportunity for small entrepreneurs in Punjab to elevate and expand their businesses without the burden of interest. This program, structured through digital channels, including mobile apps and point-of-sale systems, ensures the transparent and efficient utilization of funds. Here is everything you need to know about this promising scheme. Also Check CM Punjab Asaan Karobar Program 2025 Online Registration.

Key Features of the Program

• Maximum Limit: Entrepreneurs can avail loans up to PKR 1 million.
• Loan Tenure: The loan comes with a three-year tenure.
• Loan Type: It’s a revolving credit facility for the first 12 months.
• Repayment Term: Borrowers need to pay in 24 equal monthly installments after the initial year.
• Grace Period: A 3-month grace period is provided from the card issuance for the commencement of repayment.
• Interest Rate: The scheme offers a 0% end-user interest rate.

Usage of Funds

• Payments to vendors and suppliers.
• Payment of utility bills, government fees, and taxes.
• Cash withdrawals up to 25% of the limit for miscellaneous business purposes.
• Digital transactions can be conducted through POS and mobile apps.

Eligibility Criteria

• Available to all small entrepreneurs based in Punjab.
• Age limit: 21 to 57 years.
• Must be a Pakistani national residing in Punjab.
• Must have a valid CNIC and a mobile number registered in their name.
• Should have an existing or prospective business located within Punjab.
• Applicants should pass a credit and psychometric assessment.
• Applicants must have a clean credit history with no overdue loans.
• Only one application per individual and business is allowed.

Application Process

• Applications are to be submitted digitally through the PITB portal accessible at https://akc.punjab.gov.pk/.
• A non-refundable processing fee of PKR 500 is required.

Loan Usage and Repayment Details

• First 50% Limit: Must be utilized within the first six months.
• Grace Period: 3 months after card issuance before repayment starts.
• Monthly Installments: Post grace period, a minimum monthly payment of 5% of the outstanding loan balance is required.
• Second 50% Limit: Released upon satisfactory repayment and mandatory registration with PRA/FBR.
• Funds must strictly be used for business-related purposes; non-essential transactions are blocked.

Charges and Fees

• Annual Card Fee: PKR 25,000 + FED, deducted from the approved limit.
• Additional Charges: Include life assurance, card issuance, and delivery, covered by the scheme.
• Late Payment Charges: Applied according to the bank’s policy.

Security and Verification

• A personal guarantee digitally signed by the borrower.
• Life assurance included.
• Urban Unit conducts physical verification of business premises within six months of loan approval and annually thereafter.

Key Conditions

• Funds are restricted to core business activities.
• Registration with PRA/FBR is mandatory within six months of card issuance.

Additional Support for Applicants

• Feasibility studies for startups and new businesses are available on the PSIC and BOP websites.

Frequently Asked Questions (FAQs)

Q1: Who can apply for the CM Punjab Karobar Card?

• Any small entrepreneur aged between 21 and 57 years, residing in Punjab with a clean credit history, can apply.

Q2: What can the loan be used for?

• The loan can be used for vendor payments, utility bills, government fees, taxes, and digital transactions for business purposes.

Q3: How does one apply for the Karobar Card?

• Applications must be submitted online through the PITB portal at https://akc.punjab.gov.pk/.

Q4: Is there a fee associated with the application?

• Yes, there is a PKR 500 non-refundable processing fee.

Q5: What happens if a payment is late?

• Late payment charges will be applied as per the bank’s policy or schedule of charges.

The CM Punjab Karobar Card Program 2025 is designed to support the burgeoning entrepreneurial spirit in the region, facilitating business growth through substantial financial support and digital ease. This scheme not only promises financial aid but also ensures a solid foundation for small enterprises to thrive in a competitive market.