Lahore: Chief Minister Punjab Maryam Nawaz Sharif has launched the largest business finance initiative in the province, allocating over Rs 84 billion for the Punjab’s Easy Business Finance Scheme and an additional Rs 48 billion for the Easy Business Card Scheme.

According to a statement by Chief Minister of Punjab, the Easy Business Finance Scheme will provide more than Rs 36 billion in interest-free loans, offering loans of up to Rs 1 million each to 30 million potential beneficiaries. The loans are to be repaid in easy monthly installments over five years. Eligibility for the scheme includes men, women, transgenders, and special individuals aged between 25 and 55 residing in Punjab, as long as they are active tax filers and not defaulters of any financial institution.

The scheme includes an online application process through a dedicated web portal at akf.punjab.gov.pk. For the Easy Business Card Scheme, interest-free loans of up to Rs 1 million are available for startups and small businesses, with repayments spread over three years. The Easy Business Card, which can be applied for at akc.punjab.gov.pk, allows payments for raw materials, government fees, taxes, and utility bills, with the option to withdraw up to 25% cash.

A toll-free number, 1786, has been activated for applicant guidance. The Chief Minister emphasized the government’s role in encouraging youth self-employment and providing post-education employment opportunities, highlighting the potential for economic improvement through increased exports facilitated by these schemes.

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