Punjab Rozgar Scheme 2020 How to Apply. Punjab chief minister usman buzdar announced the punjab rozgar scheme 2020. Below which loans as much as Rs. 10 million may be given to growth employment in the province. Applicants among the age of 20 to 50 can observe for the loans. They must sign up through their cnics on https://rozgar.psic.punjab.gov.pk/.
The application Fee of the programme is Rs. 2000 (non-refundable) and should be submitted once the software has been submitted. Punjab Rozgar Scheme will provide overall loans of Rs. 30 billion to offer subsidized credit score centers to the micro, small and medium (MSMEs) startups and current enterprise in collaboration with industrial banks. The loans will variety from rs100,000 to ten million.
Who can apply for Punjab Rozgar Scheme 2020?
- College/University Graduates with Entrepreneurial Skill.
- Diploma/Certificates Holder from TEVTA Having Technical/Vocational Training.
- Artisans and Professional Workers.
- Existing Groups (However, Preference Can Be Given to Current Organizations in Wake of The Present Day Covid-19 Pandemic).
- Micro and Different Firms That Practice for A Mortgage to Adopt Aid-Green and Purifier Manufacturing Technologies or Any Inexperienced / Surroundings-Pleasant Intervention to Improve the Environmental Performance of Their Operations.
Eligibility Standards for Punjab Rozgar Scheme 2020
- Male / Woman / Transgender
- Citizen of Pakistan, Resident in Punjab, Verified Thru CNIC
- Commercial Enterprise Vicinity: Punjab.
- Sole Proprietor, Partnership, Or Any Commercial Enterprise Pleasing Different Eligibility Criteria.
- Have to Have an Easy e-CIB / Credit Records
- For Startups / New Companies (Having A Possible Marketing Strategy)
- For present corporations (having a possible marketing strategy with a focal point to preserve the impact of covid-19).
- Having legitimate/ Valid CNIC
- Any parameter to be set by punjab small industries corporation (PSIC) / Government.
Terms & Conditions for Punjab Rozgar Scheme 2020
|Features||Details and Description|
|Loan limit||• upto Rs. 10. 00 million|
• smooth lending: from rs. One hundred,000/- to rs. 1,000,000/-
• secured lending: from rs. 1,000,001/- to rs. 10,000,000/-
• under punjab green improvement scheme, the limit of a loan will remain the same. However, preference will be given to the micro-establishments, ready to undertake the environment enhancing generation, having up to 10 numbers of employees.
|Loan_Purpose||• Setting up of new business|
• Balancing, Modernization and Replacement (BM&R) for existing businesses
• Working Capital
|MSMEs_Sectors||• Manufacturing, Service, Trading, Agriculture and Livestock.|
• Environment Friendly / Quality Improving Micro Enterprises as defined above will also be considered under the Punjab Green Development Program
|Application Processing_Fee||• Rs. 2000/- (non-refundable) at the time of submission of application|
|Loan_Tenure or Loan Repayment_Period||• From 2 years to 5 years including a grace period.|
|Features||Details and Description|
|Grace_Period||Up to Six (06) Months (However, the markup will be charged during the grace period)|
|Loan_Type||Term loan as per bank policy and working capital|
|Cost of Capital||Cost of Capital to be paid by Borrower: 4% for clean lending5% for secured lending|
|Debt: Equity||80:20 (For males) 90:10 (Women, Transgender and Differently abled) (Meaning thereby 20% / 10% of the project cost will be invested by the borrower).|
|Loan_Disbursement||In installment(s) as per approved business plan.|
|Loan_Security||1. Security for Clean Lending Security for loan limit from Rs. 100,000/- to Rs. 500,000/- PeRsonal Guarantee of the borrower along with net worth statement. Security for loan limit from Rs. 500,001/- to Rs. 1,000,000/- PeRsonal Guarantee of the borrower along with at least one, Third Party guarantor with overall net worth collectively equal to size of the loan applied. (Third Party should be a citizen of Pakistan and resident of the Punjab having a valid CNIC and must not be older than 55 yeaRs. Moreover, e-CIB of third party should be clean i.e. it should not have any overdue or write off history) Or Guarantee of Government employee of BS-10 and above alongwith peRsonal guarantee of the borrower. (Departmental guarantee of the government employee will be mandatory) Net Worth / Wealth Description and Calculation Criteria: Net Worth may be in the form of Tangible Asset i.e Property or Vehicle owneRship and may be assessed as follows: A. Property may be valued at respective DC rate. Or B. Property valuation may be established from Wealth Tax statement. Or C. Evaluation by Pakistan Banks Association (PBA) approved evaluator/agent Or D. Vehicle valuation shall be invoice price less depreciation (10% for each passing year). 2. Security for loan limit from Rs. 1,000,001/- to 10,000,000/- Mortgage of Assets Asset description A. Residential / Commercial / Industrial / Agricultural Property / vehicle having clean title and clear access (acceptable to the bank) and valued by banks approved appraiser as per bank’s policy. B. The property should be in the name of borrower or blood relative 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.|
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