Lahore: Punjab Chief Minister Maryam Nawaz Sharif has unveiled the transformative Asaan Karobar Finance scheme, a multibillion-rupee initiative aimed at supporting small and medium enterprises (SMEs) across the province. The scheme is designed to provide interest-free loans, enhancing financial access for local businesses and fostering economic growth.
The scheme will offer two types of loans: Tier-1 loans, which are unsecured and offer up to Rs5 million, requiring only personal guarantees, and Tier-2 loans, which range from Rs5 million to Rs30 million and are secured. In addition to these loans, the program provides subsidies for solar equipment, cleaner technologies, and advisory services.
Furthermore, industrial estates are being developed in Sialkot, Gujrat, and Quaidabad, while plans for a dedicated tannery zone in Sialkot are underway to reduce water pollution and boost leather exports.
The Asaan Karobar Finance scheme is set to benefit thousands of businesses in the short term and has an ambitious Phase-II scheduled for 2025-26. This phase will extend the scheme’s scope with a budget of Rs100 billion, benefiting around 24,000 SMEs and facilitating Rs379 billion in loan disbursements.
By focusing on small businesses, the Punjab government is prioritizing economic empowerment and sustainable development, offering SMEs the necessary resources to grow, innovate, and contribute to the province’s economic success.
This initiative is part of a broader package of reforms led by CM Maryam Nawaz, including efforts to enhance housing, agriculture, and renewable energy sectors, all of which are designed to improve the living standards and financial well-being of Punjab’s citizens.
Samra Zulfiqar, a real estate analyst at Zameen.com, is passionate about finding projects that offer buyers the best returns. Her keen insights spotlight the market’s most promising opportunities.
