Saturday December 7, 2024: The Punjab government has launched the ‘Karobar Card,’ a pioneering initiative aimed at empowering small businesses across the state. The new program is designed to provide financial assistance, credit facilities, and business development support to local entrepreneurs, especially those in rural and semi-urban areas.
The ‘Karobar Card’ offers access to affordable loans and easy credit, helping small businesses manage their cash flow and scale their operations. It will also provide benefits like reduced interest rates, quicker loan processing, and exclusive business advisory services.
This initiative is part of the state government’s broader efforts to support the growth of the MSME (Micro, Small, and Medium Enterprises) sector, which forms the backbone of Punjab’s economy. With many small businesses facing financial challenges, the Karobar Card aims to bridge the gap between entrepreneurs and financial institutions.
Punjab’s Chief Minister, during the launch, stated, “The Karobar Card will serve as a game-changer for small businesses, enabling them to access much-needed financial resources and guidance to thrive in a competitive market.”
Eligible small business owners can apply for the card online or at designated government centers, with additional assistance from the Punjab State Industrial Development Corporation (PSIDC). The government is optimistic that the Karobar Card will lead to job creation, improved business growth, and contribute to the state’s economic development.
This initiative is expected to benefit thousands of small businesses in Punjab, including retail, manufacturing, and service sectors, marking a significant step towards a more robust and inclusive business ecosystem in the state.