Purpose
A revolving interest-free financial support scheme for artisans of Punjab to facilitate the establishment, strengthening, and expansion of cottage industry-based businesses. The scheme aims to preserve traditional handicrafts, promote cultural heritage, generate employment opportunities, and encourage self-employment through accessible and structured financing.
Eligibility Criteria
- Artisans registered with PSIC through PSIC Geo tagging app
- Resident of Punjab as per CNIC
- Must have a clean e-CIB / credit history
- Having Valid CNIC
- Having Age between 21-55 years
- Defaulters and persons having poor track record of repayment in previous and ongoing PSIC loan schemes would not be eligible. (* Poor track record means person who had delayed repayment of 3 consecutive installments of loan.)
- Existing PSIC Borrowers who have paid 75% of the total loan amount in monthly installments as per repayment schedule would be eligible to obtain loan under this scheme but subject to satisfaction of Regional Director, concerned.
Loan Amount
- Up to Rs. 500,000/-
Loan Tenure / Repayment
- Up to 3 Years (in equal monthly installments)
Processing Fee
-
2% of loan amount to be recovered before disbursement of loan
Security Requirements
- One personal guarantee from a regular Government employee (BS-11 or above) with:
- Minimum 3 years of service
- At least 5 years remaining service
- One employee can guarantee only one active loan at a time
- Two blank undated signed cheques
Impact
- Approx. 429 direct beneficiaries through revolving fund mechanism
- Around 1200 total beneficiaries over scheme cycle
- Rs. 150 million revolving fund supporting cottage industry development
- Strengthening of traditional crafts and cultural industries in Punjab
- Promotion of self-employment and small-scale entrepreneurship
- Economic uplift of artisan communities through sustainable income generation
Download Application Form Here
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