Punjab Rozgar Scheme is an initiative by the provincial government that aims to facilitate and enhance the scope of the cottage industry and different types of micro, small, and mid-sized enterprises (MSMEs). Although the scheme is under the flagship of Punjab Government, it is also administered by Punjab Small Industries Corporation (PSIC).
Wondering what does the employment programme by the Punjab Government entail? Worry no more! We will provide you an overview of the Punjab Rozgar Scheme, and how it benefits the unemployed population of the country in this blog.
Understanding the Scope of Punjab Rozgar Scheme
Global economy has been severely affected by the novel virus and Pakistan is no different in this regard. Whether it is a large business or a small one, everyone has suffered at the hands of the pandemic equally. The purpose of the employment programme is to provide financial assistance to both small scale businesses and new start-ups.
Furthermore, the government plans to provide up to PKR 30 million in the form of loans to subsidise credit facilities in collaboration with local banks of the province. The amounts that will be granted in this programme would range from PKR 1 lakh to PKR 10 lakh.
Targeted Groups in Punjab Rozgar Scheme
The official website of the programme has issued a list under the umbrella of ‘Target Groups’ including:
- University & College graduates who have entrepreneurial skills
- Anyone who has a diploma or certificate from technical and vocational education and training (TVET) with relevant training
- Artists and skilled workers serving in the cottage industry
- Small scale businesses that already exist, but have been affected by the current COVID-19 pandemic
Eligibility Criteria for Punjab Rozgar Scheme
There are a few requirements that you need to meet before you start applying for the scheme. Here is the eligibility criteria for the programme:
- You must be in the age bracket of 20 to 50 years.
- The applicant must be a citizen of Pakistan, and a resident of Punjab which will be verified through their CNIC .
- Business availing credit facilities in Lahore should be Lahore-based.
- The business types that are eligible for the programme include sole proprietorship, partnerships, or any business fulfilling the eligibility criteria.
- The applicant should have a good credit history.
- Business plans must include sustainability plans to keep the business in survival after the COVID 19 Pandemic.
In addition to the above-mentioned criteria, it is extremely important to carry your valid domicile certificate, which will help you verify that you are a resident of Punjab. If you haven’t applied for a domicile yet, take help from our guide on how to obtain a domicile in Pakistan.
How to Apply for Employment Scheme
Now that we have covered what audience they are targeting in the program, and the eligibility criteria, let’s take a look at the application process for Punjab Rozgar Scheme.
Here’s how to apply for the scheme:
- Visit the official website of Punjab Rozgar Scheme
- The home page will have a sign-up option, that will redirect you to the further process.
- You will then be required to fill your valid details
- Once you have provided all the information, the following section will require you to fill in the details about your business and credits.
- You will be required to upload all your necessary documents.
Features of Punjab Rozgar Scheme
Here are some of the salient features of the Punjab Rozgar Scheme:
- Loan amounts range from PKR 1 lakh to PKR 10 lakh
- Loan is payable in 2 years to 5 years
- The scheme offers the lowest mark-up rate since the programme is subsidised by the government
In this blog, we have noted down everything that you might need to know about the brand-new Punjab Rozgar Scheme. If you found this overview useful, you can subscribe to Jagah Online Blogs for more such content.