Punjab Rozgar Scheme Apply Online
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Punjab Rozgar Scheme Apply Online Latest Update 2024

Punjab Rozgar Scheme Apply Online Latest Update 2024: Chief Minister of Punjab has started Punjab Rozgar Scheme for poor and deserving. How you can apply for Rozgar Scheme and what is the benefits and eligibility criteria for this program is completely explained in this article. So, read this article carefully.

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Punjab Rozgar Scheme Apply online 2024

Punjab Rozgar Scheme Apply Online Latest Update 2024: The Punjab Rozgar Scheme 2024 is a business-friendly initiative launched by the Chief Minister of Punjab for the youth of Punjab. Under this initiative, Punjab youngsters will receive subsidized loans ranging from Rs. 01 lakh to Rs. 01 crore. So that young people can start their own enterprises and contribute to the growth of their communities and countries. This scheme is now only available in Punjab, but it may be expanded to the rest of the country in the future.

This program was launched to promote the self-employment concept in Pakistan. The Punjab government has supplied youth with loans of up to 30 billion rupees under this plan. The primary goal of this initiative is to provide the finest work prospects to Punjab’s youth, thereby improving their economic situation. This initiative by the Punjab government will assist to eradicate poverty.

Scope Of Rozgar Scheme

Under the Punjab Rozgar Scheme, the Punjab government would grant conditional loans to the youth population through commercial banks in order to support new and current enterprises. It will play a significant part in development. This initiative will grant loans to young people who seek to bring new eco-friendly technology that will assist enhance environmental quality while also reducing poverty in the country.

Eligible persons for loans

  • Qualifications for this position include a business degree from a university or college, as well as a diploma or certificate from a technical or vocational institute.
  • Artisans and skilled individuals.

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Punjab Rozgar Scheme 2024 Application form

If you meet all of the government’s eligibility conditions for this plan, you can apply. Applicants can submit their applications online using PSIC’s dedicated portal. For this, you will need several documents, the full details of which are provided below.Punjab Rozgar Scheme Apply Online

How To Apply For Punjab Rozgar Scheme

The online application process for Punjab Rozgar Program is very easy. You can submit your application by following the steps below.

  • First, open the PSIC portal on your mobile phone or computer.
  • From now on, click to register.
  • After clicking “Register”, fill out all the necessary information.
  • After entering all the information, click the register button below.
  • The next step after registration is explained in the video below. It allows you to submit your application step by step and complete each step.

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

Required Documents for Loan Application:

In order to apply for the Rozgar program, you must have the following information.

  • Full length photo
  • Front of ID card
  • Back of ID card
  • Last education/certificate (if applicable)
  • Documents Proof of knowledge (if applicable)
  • Rendered by Chamber of Commerce or trade association License/Registration (if applicable)

Terms And Conditions

 
Features Description
Loan Limit Clean lending: from Rs. 100,000/- to Rs. 1,000,000/- Secured lending: from Rs. 1,000,001/- to Rs. 10,000,000/- Under the Punjab Green Development Program, the loan limit will remain the same; however, preference will be given to micro-enterprises with up to ten employees that are ready to adopt environmentally friendly technology.
Purpose of loan Starting a new business Balancing, Modernization, and Replacement (BM&R) for existing enterprises Working Capital MSME Sector Manufacturing, Service, Trading, Agriculture, and Livestock (Environment Friendly/Quality Improving Micro Enterprises as stated 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 (6) 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 Borrower will pay the following capital costs: 4 percent for clean lending. 5% for secured loans.
Debt: Equity 80:20 (for guys). 90:10 (women, transgender, and differently abled) (This means that the borrower will invest 20% or 10% of the project’s cost.)
Disbursement of loans In installment(s) as per approved business plan

Conclusion

In this essay, I have supplied you with comprehensive information regarding the Punjab Employment Scheme. This article contains detailed information on the application procedure, eligibility criteria, and all required paperwork to apply. If you want to participate in the rozgar scheme, submit your application online using the instructions provided. If you have any questions, please ask them in the comments area.

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