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What is Punjab Rozgar Scheme?

Coronavirus rose as the most significant humanitarian and financial emergencies. Closure or lockdown has carried the monetary action to a crashing stop. Each segment of the society and economy has been affected by the Pandemic with a more unfavorable impact on day-by-day bets, casual laborers, and established organizations. To limit the effect of COVID-19 on lives, businesses and, organizations, the Government of Punjab is zeroing in on such exercises and projects that help or uphold social areas and re-establish monetary movement to give job openings throughout the province.

Punjab Rozgar Scheme is a ground-breaking Punjab government initiative with a total value of 30 billion rupees to provide subsidized loans to developing medium or small-sized enterprises and enterprises in cooperation with commercial banks. The Punjab government will provide brand support and risk coverage to reduce the cost of MSME business loans and cope with the epidemic impact of COVID-19 on already established businesses.

Target Group

Existing Businesses
Graduates with enterprising expertise
Various ventures that apply for a credit to embrace asset-effective and cleaner creation advancements or any Green environment-accommodating intercession to improve their tasks’ ecological presentation.
Craftsperson and talented specialists
TVET Diploma holder having specialized and technical knowledge

Rozgar Scheme Eligibility Criteria

All kind of genders are eligible
The scheme is only available for the people of Punjab
Any business that comes under the eligibility criteria, whether a sole business or a partnership and business plan is must
Have a clean credit history
CNIC
Must follow all the criteria set by PSIC

Rozgar Scheme Terms and Conditions

Two types lending are given: Secured Lending from 1,000,001 – 10,000,000 Pakistani rupees. Then there is a Clean Lending from 100,000 – 1,000,000 in Pakistani Rupees. Moreover, the loan limit is up to rs. 10.00 Million.
The loan limit is the same under Punjab green development program. The micro-enterprises are given preference because they can quickly adapt to the upcoming technologies.
A repayment period of 2 – 5 years is given
The borrower will pay 5 percent of secured lending and 4 percent of clean lending as a cost of capital
For the security of the loan, different kinds of securities are to be given, like a personal guarantee having a net worth statement and the guarantee of a third party equal to the loan size. Moreover, the guarantee of government employees can also be given. In addition to that, assets can also work as security. Moreover, assets must be clean and approved by the bank, and they must be of some worth taking a loan.

Must-Have Documents/ Information

Documents

The full picture of the face
Front and back of CNIC
Security Documents to get a loan
Educational Certificates
Experience Certificates
Registration certificates or licenses from the chamber of trade booty

Information

Other than blood relatives, at least two References with their mobile numbers and CNICs
Registration number of any registered vehicles
Electricity bill’s consumer ID
National Tax Number, if you don’t have it, then you need to register it first
If there is a fresh business, then all the information related to the household income and household expenses along with the business income and business expenditures in a month must be given
For some already established businesses, the same criteria are followed. All the information related to the household income and household expenses along with the business income and business expenditures in a month must be given

How to Apply in Punjab Rozgar Scheme?

In the history of Punjab, there is no such program offered before. From the start until now, the Rozgar Scheme is the most significant employment program. The program will assist the youth who is skilled and educated so they can start their businesses.

People who come under the age group of 20 – 50 years are eligible to take loans, but for that, they need to use their National Identity Cards to sign up on the website: rozgar.psic.punjab.gov.pk

After signing up, you will be able to see the form you have to fill according to the terms and conditions mentioned above.

To apply for this scheme, 2000/- has to be submitted as an application fee. It has to be submitted along with the application for a loan. Moreover, to have more information regarding this Rozgar Scheme you can visit the government’s official website for rozgar scheme, which is rozgar.psic.punjab.gov.pk/Terms & Conditions

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