The Punjab Small Industries Corporation (PSIC) board, chaired by Provincial Minister for Industries and Commerce Chaudhry Shafay Hussain, has approved the much-anticipated CM Asan Karobar and CM Karobar Card schemes. These initiatives aim to provide financial support for businesses in Punjab, promoting industrialization and creating employment opportunities. This article details the key features, loaning schemes, and additional decisions made during the 129th PSIC board meeting.
| Scheme | Details |
| CM Asan Karobar | Interest-free loans start from Rs5 lakh to Rs30 million for businesses. |
| CM Karobar Card | Financial support tailored for small to medium enterprises. |
| Plot Auctions | Cancelled industrial plots to be auctioned, with fines applied. |
| Fee Reductions | Business title change fees were reduced from 1% to 0.5%. |
Key Features of CM Asan Karobar and CM Karobar Card Schemes
The CM Asan Karobar and CM Karobar Card schemes are groundbreaking initiatives designed to boost small and medium enterprises (SMEs) in Punjab. These schemes will offer interest-free loans ranging from Rs5 lakh to Rs30 million, allowing businesses to expand their operations and create employment opportunities. The final approval for these schemes will be sought from the Punjab Cabinet before implementation.
Auction of Cancelled Plots
During the meeting, the PSIC board approved the auction of 63 redundant properties in small industrial estates. Additionally, 500 plots that were cancelled due to the non-installation of industrial units will be auctioned if owners fail to respond to the final notice within two months. The money from the auction will be returned to the owners after deducting fines as per the policy. This move aims to ensure the effective utilization of industrial land across Punjab.
Reduction in Business Fees
In a bid to encourage businesses and ease operations, the PSIC board has reduced the fee for changing the title, style, or corporate setup of businesses across Punjab. The fee has been reduced from 1% to 0.5%, providing a significant relief for entrepreneurs looking to restructure their enterprises. This reduction is expected to facilitate smoother business transitions and encourage investment.
Utilization of Artisan and Gandhara Villages
The PSIC board also discussed strategies to fully utilize the Artisan Village Kot Abdul Malik and Gandhara Art Village. Business plans were sought to maximize the potential of these cultural and artistic hubs. These initiatives aim to promote the rich heritage of Punjab while creating new opportunities for local artisans and businesses.
Also Read: Breaking News: Karobar Card Scheme Aims to Improve Industrial Estates 2025
Focus on Industrial Development and Environmental Measures
The Provincial Minister for Industries and Commerce emphasized the importance of accelerating industrialization in Punjab. He directed that final notices be issued to industrial units that have not yet installed water treatment plants. Additionally, he stressed the importance of tree plantation in small industrial estates to enhance environmental sustainability. The minister assured that no obstacles in the path of industrialization would be tolerated.
Conclusion
The approval of the CM Asan Karobar and CM Karobar Card schemes marks a significant step towards economic growth and industrial development in Punjab. These schemes, along with the decisions to auction redundant properties, reduce business fees, and focus on cultural hubs, reflect the government’s commitment to fostering an environment conducive to business growth. Entrepreneurs and industrialists in Punjab are encouraged to take advantage of these initiatives to grow their businesses and contribute to the province’s prosperity.
Also Read: Interest-Free Loan for Small and Medium Businesses in Punjab 2025
FAQs
What is the loan limit under the CM Asan Karobar Scheme?
The scheme offers interest-free loans ranging from Rs5 lakh to Rs 30 million.
How will the cancelled plots be managed?
Cancelled plots will be auctioned after issuing final notices to the owners. The proceeds will be returned to the owners after deducting fines.
What is the new fee for business title changes?
The fee for changing the title, style, or corporate setup of a business has been reduced to 0.5%.