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Chief Minister of Punjab, Maryam Nawaz Sharif, has unveiled the “Karobar Card” scheme aimed at supporting small businesses across the province. The scheme will provide financial aid to small enterprises, helping them to grow and enhance their operations.
In addition to this, a proposal for the Chief Minister’s Easy Business Financing Scheme for medium-sized businesses has been approved. Under this scheme, eligible businesses will be offered loans ranging from Rs100,000 to Rs10 million. The proposal also includes an extension of the loan amount up to Rs30 million, to further support medium-sized businesses.
Chief Minister Maryam Nawaz Sharif has called for a detailed plan regarding the small and medium-sized loan schemes. A preliminary decision has been made to offer interest-free loans to stimulate commercial activity in the province.
As part of her broader economic vision, the government has agreed to establish dedicated zones for small and medium industries in major cities, to provide them with enhanced resources and support. It has also been proposed that certain priority sectors, such as IT, receive preferential access to loans.
To ease the repayment process, businesses benefiting from the Easy Business Financing Scheme will be allowed a three-month grace period after receiving their first loan installment. Loans will be repayable within a five-year term.
However, there are some restrictions on the use of the Karobar Card, including a ban on payments in restaurants and 10 other specified sectors. A priority focus will be placed on providing loans to IT startups within the proposed IT City in Punjab, aligning with efforts to promote the IT sector.
Reaffirming her commitment to fostering trade and industry, Chief Minister Maryam Nawaz Sharif emphasized that these initiatives aim to create more employment opportunities and stimulate economic growth across the province.
