Punjab Rozgar Scheme 2020: PSIC application form

LAHORE: Chief Minister Usman Buzdar on Thursday launched the Punjab Rozgar Scheme worth Rs30 billion under which the provincial government aims to provide jobs to 1.6 million needy persons.

The loan process has been made easy and the interested youths could submit their applications through PSICportal, Punjab Bank website, or Punjab Rozgar App.

There are certain conditions one has to fulfil before applying for the concessionary loans.

Also read: Simple steps to fill online form

Giving the details, the chief minister announced that loans from Rs100,000 to Rs10 million would be given at minimal interest rates in collaboration with Punjab Small Industries Corporation and the Bank of Punjab. Men, women, differently-abled, and the transgender community of 20 to 50 years of age would benefit from this scheme, he said.

Small loans will be provided for 339 subsectors of 23 assorted sectors, including 26 subsectors of the textile industry, to boost business, trade, and manufacturing in the province, he added. This facility will promote the cottage industry and people could expand their businesses by benefitting from this scheme.

Who can apply?

• University/college graduates with entrepreneurial skill
• Diploma/certificate holder from TVET having technical/vocational training.
• Artisans and skilled workers
• Existing businesses (However, preference will be given to existing businesses in wake of the current COVID-19 pandemic)
• Micro and other enterprises that apply for a loan to adopt resource-efficient and cleaner production technologies or any green / environment-friendly intervention to improve the environmental performance of their operations.

Eligibility Criteria

• Male/Female/Transgender
• Citizen of Pakistan, Resident in Punjab, verified through CNIC
• Business Location: Punjab
• Sole Proprietor, Partnership, or any business fulfilling other eligibility criteria
• Must have a clean e-CIB/Credit History
• For startups/new businesses (Having a viable business plan)
• For existing businesses (Having a viable business plan with a focus to sustain the impact of COVID-19)
• Having valid CNIC
• Any other parameter to be set by Punjab Small Industries Corporation (PSIC)/Government