Chief Minister Punjab Shahbaz Sharif Self Employment Scheme 2019 as well known as CM Punjab interest free loan scheme If you need interest free loan of up to 50000 thousands, then now you are at the page, where all the details about CM Punjab self employment program have been given. Punjab government has disbursed interest free loans of more than 16 billion rupees during last 4 years. These interest free loans have been distributed among 850000 families.
Get Interest Free Loans Under CM Punjab Youth Loan Scheme as Shahbaz Sharif CM of Punjab announced latest program in province to reduce un-employments. Chief Minister Self-Employment Scheme is aimed at promoting self-reliance through utilization of skills. He said that interest-free loans worth 5.5 billion rupees have so far been distributed under this scheme and 3.5 lakh families have benefited from this programme. He said that further amount of six billion rupees would be given during next five years for the provision of interest free loans and twenty lakh families would benefit. The Chief Minister said that ratio of repayment of loans under Chief Minister’s Self Employment Scheme is hundred percent while huge amount of 300 billion rupees had been gobbled up in the form of loans which were written off on political basis.
He said that corrupt system will have to be rooted out in the survival, progress and prosperity of the country. He said such a country cannot be described as a welfare state where influential persons get their loans written off whereas skilled persons are compelled to beg. He said that the obsolete system will have to be changed through collective wisdom and concerted efforts whereas the principle of hard work and honesty will have to be adopted for making Pakistan a welfare state in the real sense.
Government has reserved revolving fund of 40 billion rupees for CM Punjab loan scheme. Soon more grant will be added in the revolving fund. Services of an international chartered accountant firm has been hired to ensure transparency in this scheme. Punjab government is committed to disburse interest free loans among 2 million families in next 3 years. Loans are being disbursed through Akhuwat and Punjab Small Industries Corporation. In the first stage 20000 loan is given later on, on seeing the past record of borrower up to 50000 loan can be approved.
The Chief Minister appreciated the efforts of Dr. Amjad Saqib and his team with regard to self-employment scheme and said that the minimum limit of interest free loan be raised from 20 thousand rupees to 40 thousand rupees. Refereeing to his visit to Sahiwal, the Chief Minster said that he went to the house of victim of gang rape in a nearby village of Sahiwal and sympathized with the affected family. He said that police remained ignorant about this tragic incident for about one and a half months as the girl belonged to a poor family.
This program has been launched to eradicate poverty in the province. No mark up is taken from borrowers at all. Only domicile holders of Punjab are eligible to apply for a interest free loan. Both males and females can apply. Applicants will have to pay application fee of 200 rupees for getting a form.
Application form is not available online. Attach your computerized national identity card, recent color photographs, electricity bill and guarantor’s CNIC along with your application form. Applications can be submitted any time as no deadline has been announced. Loans will be disbursed 100% on merit basis. For further details and getting application form contact Akhuwat or PSIC. Contact details of both these organizations contact details here.
- 1-Punjab Small Industries Corporation
Alfalah building, The Mall, Lahore
Ph # 042-99201432, 99237191
Address: 19-Civic, Sector A-2, Township, Lahore.
Near Mihaj-ul-Quran University.
Phone No: 042-35122743, 35156382
Email: [email protected]
Web Address- www.akuwat.org.pk
CM Punjab Self Employment Scheme launched with interest free load scheme for eligible candidates, If you need more details then mention in comments section below.