Punjab Rozgar Loan Scheme|Rozgar Punjab Scheme|PSIC Punjab Rozgar scheme

What is Punjab Rozgar Scheme?

Punjab Rozgar Scheme 
Punjab Employment Scheme, an important initiative of the Punjab Government with a total cost of Rs. 10,000. 30,000.00 million (Rs. 30 billion) in collaboration with commercial banks to provide discounted credit facilities to micro, small and medium enterprises (MSMEs) startups, and existing businesses.
The Punjab government is working on various development initiatives which have been integrated as a single scheme after the Woods. Launched by Punjab Small Industries Corporation (PSIC) in association with The Bank of Punjab, the Punjab Rozgar Scheme aims to provide small business loans up to Rs.100,000 / - to Rs. 10,000,000 / -

Who is the Eligibility Criteria for Punjab Rozgar Scheme?

-Male, Female, and Transgender 

-Your age should be 20 to 50 years

-Graduate student with business skills

-Diploma / Certificate Holder of TVET with Technical / Vocational Training 
-Craftsmen and skilled workers
-You must be a resident of Punjab

What is the Processing Fee for Punjab Rozgar Scheme?

The Punjab Rozgar Scheme fee is Rs. 2,000/- which is non-refundable.

Who Should Apply for Punjab Rozgar Scheme?

The application process is online.
All applications of the Punjab Rozgar Scheme will be submitted through the designated portal of PSIC.

How long will you get the loan from Punjab Rozgar Scheme?

You will get a loan for 2 to 5 years with a grace period of 6 months.

What is the Loan type of the Punjab Rozgar Scheme?

The loan type of the Punjab Rozgar Scheme is Term Loan.

What is the loan limit of the Punjab Rozgar Scheme?

There are two types of loan limits.
Clean: Rs. 100,000/- to Rs. 1,000,000
Secured: Above Rs.1,000,000 up to Rs. 10,000,000

What is the Debt-Equity ratio for Punjab Rozgar Scheme?

The equity ratio for this loan is as
For Males= 80:20
For Females, Transgender & Disabled= 90:10

What are the Documents required for Punjab Rozgar Scheme?

-A valid CNICA

-Any other parameter set by Punjab Small Industries Corporation (PSIC) / Government

What is the Security Requirement for Punjab Rozgar Scheme?

Up to Rs. 500,000 /- 

Borrower's guarantee with a statement of net worth 500,000/-

Above Rs. 1,000,000/-

Borrower's personal guarantee + (Guarantee of at least 01 third party whose collective net worth is equal to the minimum loan amount or guarantee of a government employee of BPS-10 and above.) The net worth of tangible assets Can be in the form of property or vehicle ownership and can be assessed as follows:

a) The value of the property can be set by the bank at the DC rate.

Or

B) Property can be assessed with a wealth tax statement.

Or

c) Assessment by Pakistan Banks Association (PBA) Approved Reviewer

Or

d) The purchase price of vehicles will be less than the purchase price (10% for each passing year).

The third-party must be a citizen of Pakistan and a resident of Punjab who has a valid identity card and is not more than 55 years of age. Furthermore, the third-party ECIB should be clear, meaning it should not have any overdue or right of history.

Importance of Punjab Rozgar Scheme

Small and medium-sized enterprises are the backbone of a country's economy, and their growth is one of the key drivers of economic growth. Despite their importance, these businesses do not have access to financing options. To promote this neglected sector, the Punjab Government announce this scheme.