Wed. Jul 24th, 2024
Complete Security Requirements for the Punjab Rozgar Scheme in April 2024, Latest Updates

Pakistan’s decreasing economic conditions have become a burden for its people, closing numerous businesses, increasing unemployment and resulting in job cuts. The Punjab government launched the “Punjab Rozgar Scheme” to help with this problem. The monthly incomes of small business owners, labour-class members, and employees stop, leaving them with less and less to spend. The country’s crisis is making it harder and harder for the average person to survive. CM Maryam Nawaz Sharif uses Punjab Rozgar as an opportunity to give needy families long-term, interest-free loans to establish survival.

Requirements of Security

  • Personal Guarantee of The Customer up to Rs. 500,000/-with statement of net worth Over INR 500,000 and up to INR 1,000,000
  • The borrower’s guarantee plus (at least one) Third Party Guarantee from things whose combined net worth is at least equal to the loan amount OR a Guarantee from a government employee working for BPS-10 or higher Net worth can be measured as follows and can take the form of real estate, such as ownership of a property or a vehicle. 
  • The bank may value the property at the DC rate. 
  • The Wealth Tax statement can be used to determine the value of properties. 
  • Testing by a person approved by the Pakistan Banks Association (PBA). 
  • The vehicle’s valuation is the purchase price less depreciation (10% for each year that passes). 
  • The third party must be a resident of Punjab a citizen of Pakistan.
  • And have a current CNIC of at least 55. Additionally, the third parties’ e-CIB should be clean, meaning it shouldn’t have any history of late payments or losses. 

Security Requirements
Personal Guarantee of the Customer up to Rs. 500,000
Third-Party Guarantee from a resident of Punjab and a citizen of Pakistan, with a current CNIC of at least 55, and clean e-CIB
Net worth statement with details of property or vehicle ownership, valued at DC rate or based on Wealth Tax Statement
Vehicle valuation based on purchase price less depreciation

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Conclusion

In summary, the Punjab Rozgar Scheme provides hope for people looking for financial security amid economic uncertainty. The program helps people start or grow their businesses by giving them easy access to loans and advice, which promotes economic growth on both a personal and a national level. With the Punjab Rozgar Scheme, you can apply right now and get on the path to financial independence.

Also Read: Alert! Be Careful of the Benazir Kafalat Program Scammers – Protect Yourself 2024 (Latest Updates)

FAQ’s

What is the function of this scheme?

CM Maryam Nawaz Sharif is using Punjab Rozgar as an opportunity to give needy families long-term, interest-free loans to help them survive.

Why is this scheme launched?

Pakistan’s decreasing economic conditions have become a burden for its people, closing numerous businesses, increasing unemployment and resulting in job cuts. The Punjab government launched the “Punjab Rozgar Scheme” to help with this problem.

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