Punjab Rozgar Scheme 2020, Online Apply
View Punjab Rozgar Scheme 2020, Online Apply, rozgar.psic.punjab.gov.pk, Under the Punjab Rozgar Scheme businesses you can apply for loans from Rs. 100,000/- to 10 million. Punjab Chief Minister Usman Buzdar will launch the Punjab Rozgar Scheme 2020 today under which loans up to Rs10 million are going to be given to extending employment within the province. Individuals between the age of 20 to 50 can apply for the loans by signing up through their CNICs on https://rozgar.psic.punjab.gov.pk/
The application fee of the program is Rs/- 2000 (non-refundable) and must be submitted once the appliance has been submitted.
rozgar.psic.punjab.gov.pk Punjab Rozgar Scheme Latest
How to Apply Punjab Rozgar Scheme 2020, Online Apply
Punjab Rozgar Scheme 2020, Description with Detailed Application Form and Process, Eligibility criteria, schedule & Contact details are mentioned in the official latest advertisement below.
Eligibility and Criteria
Male / Female / Transgender
Citizen of Pakistan, Resident in Punjab,
verified through CNIC
Business Location: Punjab Pakistan.
Sole Proprietor, Partnership, or any business fulfilling other eligibility criteria
For startups / new businesses (Having a viable business plan)
For existing businesses (Having a viable business plan with attention to sustain the impact of COVID-19)
Having valid CNIC
Punjab Rozgar Scheme 2020, Any other parameter to be set by Punjab Small Industries Corporation (PSIC). Government of Pakistan.
Who is eligible for Punjab Rozgar Scheme 2020
20 to 50
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Punjab Rozgar Scheme 2020 Application Procedure
Terms & Conditions
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/-
Punjab Rozgar Scheme 2020, Under the Punjab Green Development Program, the limit of a loan will remain an equivalent. However, preference is going to be given to the micro-enterprises, able to adapt the environment improving technology, having up to 10 numbers of employees.
Purpose of loan
Setting up of latest business
Balancing, Modernization and Replacement (BM&R) for existing businesses
Manufacturing, Service, Trading, Agriculture, and Live Stock
(Environment Friendly / Quality Improving Micro Enterprises as defined above also will be considered under the Punjab Green Development Program)
Rs. 2000/- (non-refundable) at the time of submission of application
Tenure of loan/Repayment Period
From 02 to 05 years including a grace period
Punjab Rozgar Scheme 2020, Up to 6 (06) Months (However, the markup are going to be charged during the grace period)
Type of loan
Term loan as per bank policy and dealing capital
Cost of Capital
Cost of Capital to be paid by Borrower:
4% for clean lending
5% for secured lending
80:20 (For males)
90:10 (Women, Transgender and Differently abled)
(Meaning thereby 20% / 10% of the project cost are going to be invested by the borrower)
Disbursement of loans
In installment(s) as per the approved business plan
Security of loan
1. Security for Clean Lending
Security for loan limit from Rs. 100,000/- to Rs. 500,000/-
Personal Guarantee of the borrower alongside net worth statement.
Security for loan limit from Rs. 500,001/- to Rs. 1,000,000/-
Punjab Rozgar Scheme 2020, Personal Guarantee of the borrower alongside a minimum of one, Third Party guarantor with overall net worth collectively adequate to the size of the loan applied.
(Third Party should be a citizen of Pakistan and resident of Punjab having a legitimate CNIC and must not be older than 55 years. Moreover, e-CIB of the third party should be clean i.e. it shouldn’t have any overdue or write off history)
Guarantee of state employee of BS-10 and above along with a personal guarantee of the borrower.
(Departmental guarantee of the govt employee are going to be mandatory)
Net Worth / Wealth Description and Calculation Criteria:
Net Worth could also be within the sort of Tangible Asset i.e Property or Vehicle ownership and should be assessed as follows:
A. Property could also be valued at the respective DC rate.
B. Property valuation could also be established from the Wealth Tax statement.
C. Evaluation by Pakistan Banks Association (PBA) approved evaluator/agent
D. Vehicle valuation shall be invoice price less depreciation (10% for every passing year).
2. Security for loan limit from Rs. 1,000,001/- to 10,000,000/-
Mortgage of Assets
A. Residential / Commercial / Industrial / Agricultural Property/vehicle has a clean title and clear access (acceptable to the bank) and valued by banks approved appraiser as per the bank’s policy.
B. The property should be within the name of the borrower or blood relation of individual/proprietor/partners.
C. Documentation shall be as per bank credit policy / legal division. Charge / hypothecation on fixed / current assets as per internal / external regulations.