Punjab Govt Rozgarr Scheme Oct 2020

 

Punjab Govt Rozgarr Scheme Oct 2020

 Overview:

The Punjab Small Industries Corporation (PSIC) is an independent body established under the SIC Act 1973 and is run by the Department of Industry, Commerce, Investment and Skills under the administration of the Punjab Government. The purpose of this institute is to provide loans to small and home industries across the province, issue credit guarantees to scheduled banks, access to established infrastructure, provide advisory services to businesses, marketing resources, general facilities, establishing colonies for artisans. , Design centers, workshops, and establishments to develop and promote handicrafts and industries. Visit  website  www.psic.gop.pk for more information.

Corona virus (COVID-19) has emerged as a major human and economic challenge. Lockdowns and business shutdowns have severely unusual economic activity happened . Every sector of society, including the economy, was affected by the epidemic, the negative effects of which were mostly on the working  middle class, informal workers and existing businesses. To reduce the impact of Corona Virus (Cusiness activities and lifes, the Punjab Government is focusing on activities and programs that provide economic opportunities across the province, including providing social employment opportunities. Also be able to resume activities.

The Punjab Employment Scheme is the most important scheme of the Punjab Government which has been formulated with a hefty amount of Rs. 30,000 million (Rs. 30 billion) through which loans will be provided to small, medium and home industries (MSMEs) through commercial banks With the help of the existing business and new business start-up loan facilities will be available. In these loans, the Punjab government will provide mark-up support and risk coverage for small, medium and home-based industries (MSMEs) to reduce the cost of commercial loans

The Punjab Employment Scheme has been specially formulated to create employment opportunities for the youth so as to provide employment as well as increase economic activities. University student or pass out  with technical skills, diploma / certificate holders of technical / vocational training institutes, new business start-ups and existing business people affected by Corona epidemic will be given a best opportunity to benefit from this Opportunity .

The Punjab Green Development Program (PGDP) aims to improve the environmental quality of the province and reduce air, soil, water pollution, forest, flood and land degradation problems, surface and ground water resources. Managing, conserving natural resources and conserving environmental diversity, providing alternative means of public transportation, harmonizing environmental aspects of public policy-making and private investment with international standards, and expanding energy-friendly technologies while expanding environmentally friendly technologies. Includes improvements.

 Future:

Under the Punjab Employment Scheme, the Punjab Government will provide loans on easy terms through commercial banks to new and existing businesses, promotion of small, medium and cottage industries and business people affected by Corona epidemic. The scheme will play an important role in development by supporting trade, services, production, agriculture and livestock and other related sectors.

The eco-friendly loan scheme will provide loans to small and other businesses that want to introduce new eco-friendly technologies that will improve environmental quality as well as energy efficiency.

Eligible People :

A. University / College graduates with business skills

B. Diploma / Certificate Holders of Technical / Vocational Training Institutes

C. Craftsmen and skilled people

D. Current business (however, existing businesses affected by the Corona-19 epidemic will be preferred)

E. Micro and other businesses that can introduce efficient and transparent production technologies or any green / eco-friendly measures that can improve environmental performance or the environment.

Rule and law :

Debt limit 

One lakh to one crore rupees

Based on personal guarantee: Rs. 100,000 to Rs. 1,000,000

Based on mortgaged assets: Rs. 1,000,001 to Rs. 10,000,000

The purpose of the loan

Starting a new business

Balancing, innovating and improving existing business

Small, Medium and Domestic Industries (MSMEs) Sector

Production, services, trade, agriculture and livestock Under Under the Punjab Green Development Program,

businesses with up to 10 employees or other small businesses can adopt environmentally friendly technologies as well as improve energy efficiency.

Processing fee

Rs.2000 (non-refundable) will have to be paid at the time of submission of application

Loan period / repayment period

02 to 05 years including grace period

Grace period

Up to 06 months (However, markup will have to be paid even during the grace period.)

Type of loan

Loan term as per bank policy and revolving capital

Mark up

The cost of the fund to be paid to the borrower

4% of personal mortgage loan (4%)

5% (5%) of loans taken under mortgage assets

Lending rate

 80:20 (for men) 20% of the total cost of the accumulated business plan will have to be borne by the borrower and 80% will be provided by the government.

90:10 (for women, eunuchs and special people). The borrower will have to bear 10% of the total cost of the submitted business plan and 90% will be provided by the government.

 

Debt distribution

In installments according to the approved business  Method

 

Debt security

 1. Security for a clean landing

 i. For loan range from Rs. 100,000 to Rs. 500,000

 Personal guarantee with details of assets

 ii. For loan range from Rs.500,001 to Rs.1,000,000

 

Personal guarantee with a guarantee of a person whose total assets are at least equal to the loan requested

(The guarantor must be a citizen of Pakistan, hold an identity card and be a resident of the province of Punjab, be under 55 years of age, have an e-CIB)

 

Or

 

Grade 10 or higher government employee guarantee with lender's personal guarantee.

(Government employee's guarantee will be verified by the relevant government department)

 

How to estimate a borrower's assets:

 

Movable assets can be estimated as follows:

 

ii. The debtor's property can also be estimated from a wealth tax statement

 

Or

 

iii. According to the evaluators of Pakistan Banks Association

 

Or

 

iv. The cost of vehicles will be estimated according to the purchase price (10% reduction with each passing year)

 

2. Security for secure landing

 

Loan range from Rs. 1,000,001 to Rs. 10,000,000

 

 Mortgage of assets

 

 Asset Description

 

Residential / commercial / industrial / agricultural land or vehicle that is not already mortgaged and does not involve any legal complication and is easily accessible to the bank.

 

i. The bank will levy value from its approved agents as per its policy

 

ii. The property is in the name of the creditor / individual / partner in his own name or in the name of a blood relationship

 

iii. The documents should be in accordance with the bank credit policy and the relevant bank rules

 

Payment Procedure:

The following is the payment schedule for the applicant / borrower

 

Application processing fee of Rs. 2000 (non-refundable) must be submitted with the application

 

Valuation / Legal / Documentation Charges including Excise Ticket, Government Tax / etc.

 

Insurance (if applicable) must be paid

 

There will be no charges for partial or early repayment of the loan

 

In case of payment after the due date of the installment, a penalty of Rs. 1 per 1000 per day will be levied on the original amount.

Apply procedure : 

Dear Applicant:

 

You must have scanned copies of the following documents / visible images before starting your application

 

Picture with full face

The front of the ID card

The back of the ID card

Latest Academic Degree / Head Certificate (if and where applicable): Matric, Intermediate, Bachelors, Masters, PhD etc. (if applicable)

Experience head certificate (if applicable)

License / Registration with Chamber or Commercial Entity (if applicable)

You must have the following information before starting your application:

 

If you do not have a National Tax Number (not required), please register by clicking on the link provided. https://iris.fbr.gov.pk/

Electricity bill user identification number at your current address

Electric bill user identification number at your current office address (if applicable)

Registration number of any Car Automobile Equipment in your name (if applicable)

In addition to blood relatives, the names of two references, mobile numbers and their ID card numbers

Please pay attention

 

To initiate this application you must have a registered mobile number on which the Bank / PSIC can contact you.

If the above information is available, it will take at least 15 minutes to complete the request.

You can complete the form in one or more seats and then submit

Please upload as much information as you can, such as financial documents, business feasibility, bank statements for the last 6 months, etc. This will help you better evaluate your application.

Once the form is submitted, your application's registration number (ARN) will appear on the screen and you will also receive an SMS. Please keep it safe.

Visit any branch of the nearest Bank of Punjab (BOP) with your Application Registration Number (ARN) where your application will be processed after depositing a processing fee of Rs.2000 / -.

To find the nearest branch of Bank of Punjab please visit this link (https://www.bop.com.pk/Branch-Network)

You will receive an SMS after your application has been moved to the next stage of the process, so we can also check the status of your application at this link (https://rozgar.psic.punjab.gov .pk)

A new application can only be made if your first application has been rejected or if you have repaid the loan in full