Punjab Rozgar Scheme 2024
The Punjab Rozgar Scheme 2024 is a business-friendly initiative of the Chief Minister of Punjab for the youth of Punjab. Under this scheme, loans ranging from Rs 1 lakh to Rs 1 crore will be provided to the youth of Punjab on a subsidized basis. So that the youth can set up their own businesses and contribute to their own and their country’s development. This scheme has been limited to Punjab only, but may be rolled out across the country in the near future.
This scheme has been started to promote self-business vision in Pakistan. Under this scheme, the Punjab government has provided loans of up to 30 billion rupees to the youth. The main objective of this scheme is to provide the best employment opportunities to the youth of Punjab so that their economic condition can be improved. This step by the Punjab government will help in eradicating poverty.
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پنجاب روزگار سکیم 2024 پنجاب کے نوجوانوں کے لیے وزیر اعلیٰ پنجاب کا کاروبار دوست اقدام ہے۔ اس سکیم کے تحت پنجاب کے نوجوانوں کو رعایتی بنیادوں پر ایک لاکھ روپے سے لے کر ایک کروڑ روپے تک کے قرضے فراہم کیے جائیں گے۔ تاکہ نوجوان اپنا کاروبار قائم کر کے اپنی اور اپنے ملک کی ترقی میں اپنا حصہ ڈال سکیں۔ یہ سکیم صرف پنجاب تک محدود ہے لیکن مستقبل قریب میں اسے پورے ملک میں نافذ کیا جا سکتا ہے۔
یہ سکیم پاکستان میں سیلف بزنس ویژن کو فروغ دینے کے لیے شروع کی گئی ہے۔ اس سکیم کے تحت پنجاب حکومت نے نوجوانوں کو 30 ارب روپے تک کے قرضے فراہم کیے ہیں۔ اس سکیم کا بنیادی مقصد پنجاب کے نوجوانوں کو روزگار کے بہترین مواقع فراہم کرنا ہے تاکہ ان کی معاشی حالت بہتر ہو سکے۔ پنجاب حکومت کے اس اقدام سے غربت کے خاتمے میں مدد ملے گی۔
Scope Of Rozgar Scheme
Under the Punjab Rozgar Scheme, the Government of Punjab will provide conditional loans to the youth generation through commercial banks to promote new and existing businesses. It will play an important role in development. Under this scheme, loans will be provided to youth who want to introduce new eco-friendly technologies that will help improve environmental quality as well as reduce poverty within the country.
Eligible persons for loans
- University/college graduates with business skills
- Diploma / Certificate holders from Technical / Vocational Training Institutes
- Artisans and skilled persons
Punjab Rozgar Scheme 2024 Application form
If you meet all the criteria for this scheme set by the government, then you can submit your application. Those who wish to submit the application can do so online on the dedicated portal of PSIC. For which you will need some necessary documents, the complete details of which I have provided below.
How To Apply For Punjab Rozgar Scheme
The online application procedure within the Punjab Rozgar Scheme is very easy. You can submit your application by following the steps below.
- First, open the PSIC portal on your mobile device or computer.
- After that, click on Applicant Signup.
- After clicking on Applicant Signup, enter all required information.
- After entering all the information, click on the registered button below.
The next step after registration is provided in the video below. Through which you can submit your application step by step, completing all the steps.
Eligibility Criteria for Punjab Rozgar Scheme
| Eligibility Criteria | Requirements |
|---|---|
| Age | 20 to 50 years |
| Gender | Male / Female / Transgender |
| Resident | Citizen of Pakistan, Resident in Punjab, verified through CNIC |
| Business Location | Punjab |
| Business Type | Sole Proprietor, Partnership, or any business fulfilling other eligibility criteria |
| Credit History | Must have a clean e-CIB / Credit History |
| Startups / New Businesses | – Having a viable business plan |
| Existing Businesses | – Having a viable business plan with a focus to sustain the impact of COVID-19 |
| Valid CNIC | Having a valid CNIC |
| Additional Parameters | Any other parameter to be set by Punjab Small Industries Corporation (PSIC) / Government |
Required Documents for Loan Application:
You must have the following essential documents to apply for the Rozgar scheme.
- Photo with full face
- Front side of ID card
- Back side of the ID card
- Latest Educational Degree/Certificate (if applicable)
- Experience Certificate (if applicable)
- Licensing/Registration with Chamber or Trade Organization (if applicable)
Terms And Conditions
| FEATURE | DESCRIPTION |
|---|---|
| Loan limit | Upto Rs. 10.00 Million Clean 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 micro-enterprises ready to adopt environment-improving technology, having up to 10 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 Livestock (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 approved business plan |
Conclusion
In this article, I have provided you with complete information about the Punjab Employment Scheme. I have provided complete details about the application procedure, eligibility criteria, and all necessary documents to apply within this article. If you want to join the rozgar scheme, you can submit your application online as per the procedure provided. In case of any kind of question, you can ask the question in the comment section.
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