Pakistan is suffering from a huge economic crisis and inflation is rising day by day in the country. Our youth is mostly unemployed and are unable to support their families. Keeping this in mind Punjab government has recently taken the initiative of providing loans without any interest to the youth of our country.
This step is basically taken to strengthen the backbone of this country which is our youth. So, from 2023, interest-free loans will be given by the Punjab government under the advice and supervision of the PM.
Online Application for Punjab Rozgar Scheme 2023:
The process to apply for this loan is very easy and the citizens can apply online by filing a form. This loan will definitely help the youth to start their business and earn for their families. Basically, Covid-19 has destroyed the economy of Pakistan, and a large number of people are left jobless.
To cope with this situation government has planned to provide loans for business to youth.
Application form for Punjab Rozgar Scheme:
Punjab Rozgar scheme has been creating ease and providing loans over a large scale among the youth. Graduates, diploma holders, and any skilled or trained people are considered for this scheme.
Procedure to Apply for Scheme:
Visit the website of Punjab Rozgar and create your account. To create an account, one must need to enter his or her name, mobile number, and ID card number. An OTP will be sent meanwhile to the mobile number of the person.
Entering that OTP on the website page to complete the account-making process. To log in to the account, your ID card number and Passcode are entered to apply online and get the application form.
Important Fact About Punjab Rozgar Scheme:
Indeed, the Punjab Rozgar scheme is one of the largest projects in history in terms of providing employment to boost the drowning economy of Pakistan. Loans of billions of rupees and millions of people are getting benefit from this loan. The ultimate goal of government is to make the youth financially stable.
The following are the criteria for the loan application.
- Citizens must belong to Punjab Pakistan.
- Both male, female and even transgenders are eligible to apply.
- The age of the citizen should be between 20 to 50 years.
- The business of the person should be within Punjab.
- For the loan, the citizen must have a proper business plan.
Deadline for Loan Application:
Amazingly, there is no such deadline given by the Punjab government for online application for the loan. But the citizens at the same time are requested to apply for a loan as soon as possible by visiting the official website of Punjab Rozgar Scheme 2023, make an account there, and fill the form.
Required Documents for Loan Application:
Following are the required documents for the loan and they must have a scanned copy.
- ID card both from the front and back.
- Full-face picture.
- Any applicable degree or certificate.
- Security documents scanned copy.
- Any applicable experience Letter.
Some Important Information for Loan Application:
- The person applying for a loan has to submit the consumer ID of the electricity bill of his house and office if any.
- The national tax number of the citizen is also required.
- A person is supposed to provide the reference of two people (other than a blood relative).
- If the person owns any vehicle, the registration number of that vehicle needs to be submitted.
- If the person already has a business, detailed information on the expenses, and monthly income is required.
- To start a new business, information regarding monthly income, and expenses are need to be submitted.
Information Regarding Charges for the Punjab Rozgar Scheme:
- The applicant is supposed to submit the processing fee of 2000rs which is non-refundable.
- 1000rs will be charged in case of late submission of installment charges.
- The documentation charges will be charged at an actual rate.
- The processing fee by the applicant is deposited in any nearest branch of the Bank of Punjab.
- Once the fee is submitted, the application process moves to the next step and the applicant is informed via SMS.
- If the previous loan is cleared or the previous application of the applicant is rejected due to any reason then a new application is considered.
Punjab Rozgar Scheme 2023 Installment Plan:
The loan is provided to the youth in installments. The loan will surely help people to start their own business and helps them to earn their bread and butter easily.
Such a thoughtful initiative by the Punjab Government to cope with the unemployment in the country. The loan granted under this scheme will definitely help the youth to raise their family burden and live a better life.