Mon. Apr 22nd, 2024
    Punjab Rozgar Scheme Online Apply Latest Update 2023-24

    Punjab Rozgar Scheme Latest Update 2023-24

    Business Friendly Punjab Rozgar Scheme has been launched by Chief Minister Punjab. The secret of the development of the country is its small and medium enterprises which are considered as the backbone of the economy of the country and their development means the development of the country.

    While of significant importance, these enterprises currently face limitations in accessing financial resources. To invigorate this underserved sector, the Government of Punjab has undertaken multiple uplift initiatives, consolidating them into a unified program post-COVID, known as the ‘Punjab Rozgar Scheme.’ This initiative, launched by the Punjab Small Industries Corporation (PSIC) in partnership with The Bank of Punjab, seeks to offer subsidized small business loans ranging from Rs. 100,000 to Rs. 10,000,000.

    Also Read: BISP Tehsil Offices Updated List – BISP Registration

    Punjab Rozgar Scheme Online Apply

    Punjab loan Scheme Eligibility criteria:


    Men and women aged 20 to 50 years can submit their application to avail loans at subsidized markup ranging from Rs 1 lakh to Rs 1 crore.

    Qualification & Experience:

    1. Individuals who have graduated from a university or college with entrepreneurial skills.
    2. Graduates holding diplomas or certificates from Technical and Vocational Education and Training (TVET) programs, including those with technical and vocational training.
    3. Artisans and skilled workers.

    Residence Status:

    A Pakistani citizen who is a resident of Punjab, as verified through their Computerized National Identity Card (CNIC).

    Type of Business:

    New & Existing Businesses

    Loan Limit:

    1. Clean: Rs. 100,000/- to Rs. 1,000,000
    2. Secured: Above Rs.1,000,000 up to Rs. 10,000,000

    Loan Tenure:

    A duration of 2 to 5 years, which includes a 6-month grace period.

    Rozgar Scheem

    Security Requirement

    For loan amounts up to Rs. 500,000:

    • A Personal Guarantee from the Borrower, along with a net worth statement.

    For loan amounts above Rs. 500,000 up to Rs. 1,000,000:

    • A Personal Guarantee from the Borrower.
    • At least 1 Third Party Guarantee, with a collective net worth at least equal to the loan amount, OR a Guarantee from a Government Employee of BPS-10 and above.
    • Net Worth may include Tangible Assets such as Property or Vehicle ownership. The valuation can be determined through various means: a) Property may be valued at the DC rate by the bank. b) Property valuation may be established from Wealth Tax statements. c) Evaluation by a Pakistan Banks Association (PBA) approved evaluator. d) Vehicle valuation shall be determined as the Purchase price less Depreciation (10% for each passing year).
    • The Third Party Guarantor should be a Pakistani citizen and a resident of Punjab with a valid CNIC, not exceeding 55 years of age. Additionally, the e-CIB (Electronic Credit Information Bureau) of the third party should be clean, meaning it should not have any overdue or write-off history.

    For loan amounts above Rs. 1,000,000 up to Rs. 10,000,000:

    • Mortgage of Residential, Commercial, Industrial, Agricultural Property, or Vehicle with a clear title and acceptable access as determined by the bank.

    How To Apply For Punjab Rozgar Scheme 2023

    If you wish to apply for the Punjab Rozgar Scheme 2023, here is a step-by-step guide on how to complete the application:

    1. Fill out the provided application form to apply for the Rozgar Scheme.
    2. Enter your full name as it appears on your CNIC (Computerized National Identity Card).
    3. Provide your email address.
    4. Enter your CNIC number and reconfirm it to ensure accuracy.
    5. Create a robust password and ensure that you do not share it with anyone.
    6. Verify that all the information you’ve entered is accurate.
    7. Finally, click the “Register” button to submit your application.

    Important Instructions For Applying

    To apply for the Punjab Rozagar Scheme, please follow these instructions:

    1. Ensure you have a clear, full-face photo of yourself.
    2. Prepare front and back photos of your ID card.
    3. Your educational credentials, such as matric, intermediate, bachelor’s, master’s, Ph.D., etc., should be available.
    4. Include details of your relevant business experience.
    5. Make sure you have all necessary security documents documented.
    6. Register with a mobile number that your bank can use to contact you.
    7. You have the option to complete and submit one or more forms.
    8. Upload as much relevant information as possible, such as business documents and the last six months’ bank statements of your account, to enhance the evaluation of your application.
    9. After submitting the form, you will receive an Application Registration Number (ARN), which will also be sent to you via SMS. Please save this number.
    10. Visit a Bank of Punjab (POB) branch near you with your ARN, and upon depositing Rs. 2000 per your application, it will be processed.
    11. You may only submit a new application if your previous application was rejected or you have fully repaid a previous loan.
    12. The Punjab Employment Scheme is a significant initiative of the Government of Pakistan, with an allocated budget of 30 million rupees and 30 billion rupees to assist the people by providing financial support.

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