The government has introduced an opportunity for freelancers and startups through the National Co-Working Space Program (NCSP), offering interest-free loans of up to Rs 10 million to establish co-working spaces across Pakistan.
This initiative, launched by the Pakistan Software Export Board (PSEB), aims to enhance innovation, digital inclusion, and entrepreneurship, all while creating a thriving environment for the growing freelance economy.
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Here’s how you, as a Pakistani freelancer, can benefit from this initiative:
About the National Co-Working Space Program (NCSP)
The NCSP is designed to support the creation of state-of-the-art co-working spaces that cater to freelancers, entrepreneurs, and tech professionals.
The program seeks to develop 250 co-working spaces across Pakistan, with a focus on providing modern facilities and infrastructure that foster creativity, networking, and skill development.
These co-working centers will accommodate at least 100 seats each.
Eligibility for the Rs 10 Million Interest-Free Loan
To qualify for the interest-free loan, you must be either:
A freelancer, startup, or business looking to establish or expand a co-working space.
A co-working space operator, or an entity interested in converting a vacant building or co-living community into a co-working center.
You must meet the operational and technical criteria specified by PSEB in their official Expression of Interest (EOI).
How to Apply for the Loan
The loan is provided under a public-private partnership model, meaning you’ll need to establish or operate the co-working space in collaboration with the government and private sector partners.
Existing or new co-working spaces, as well as vacant public or private buildings, are eligible if they meet the criteria.
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Loan processing can be done through the PM Youth Loan Scheme or designated commercial banks. Ensure that your application follows the specific guidelines set by PSEB to ensure a smooth process.
What Does the Loan Cover?
The Rs 10 million loan will help finance the establishment, operation, and maintenance of co-working spaces, including:
- Infrastructure setup.
- Technology tools.
- other required resources.
to make the space fully functional and conducive to productivity.
Benefits for Freelancers and Startups
Once your co-working space is operational, the program will provide training programs, mentorship, and networking opportunities to foster collaboration and skill development.
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These initiatives are designed to:
Empower freelancers to enhance their skill sets.
Offer a space for entrepreneurs to grow their startups.
Facilitate digital inclusion by offering freelancers and startups access to the latest technology and professional resources.
Check the Expression of Interest (EOI) released by PSEB to ensure your project meets all technical and operational criteria.
Apply through the PM Youth Loan Scheme or with designated commercial banks to process your loan request.
Begin setting up your co-working space with a focus on collaboration, innovation, and sustainability.
