PRIME MINISTER’S KAMYAB JAWAN SCHEME:
In order to provide self-employment opportunities to the unemployed youth, Government of Pakistan is launching Prime Minister’s Kamyab Jawan Youth Entrepreneurship Scheme across the country.
Prime Minister Of Pakistan Imran Khan Niazi Announced Loan Opportunities For Fresh Applicants. The Loan is Granted To Persons to start their business or to expand the existing Business. Any Pakistani Citizen can apply for the Loan as Soon as Possible From the Given Link. Candidates can get upto 50,00,000 through Prime Minister Kamyab Nojwan Loan Scheme and Start Their own Business instead of looking for Jobs. This Program is started to Grow the economy and to make youth self dependent. It will reduce poverty and help people to start their own business.
- All Pakistani Nationals holding valid CNIC, aged between 21 and 45 years with entrepreneurial potential are eligible (for IT/ E-Commerce related businesses, the lower age limit will be 18 years).
- Small enterprises spanning across all business sectors (startups and existing businesses) as per definition of State Bank of Pakistan and owned by youth as per above mentioned age brackets are also eligible. For IT/E-Commerce related businesses, at least matriculation and/or experience of at least six month is required.
- Visit www.pakjobsalerts.com for More details.
Focus on Women:
- 25% of the loans will go to women borrowers.
- Tier 1 (T1) loans- from Rs 100,000 to Rs. 0.5 million.
- Tier 2 (T2) loans- Above Rs 0.5 million and up to Rs 5 million.
- Working capital loans and term loans
- Up to 8 years
- Grace period of up to one year (subject to size and nature of the business/loan).
Debt to Equity ratio:
- T1 loans- 90:10.
- T2 loans- 80: 20.
- The borrower’s contribution of equity would be in the form of cash or immovable property and will be required after approval of the loan.
Security arrangements will be as under:
- T1 loans: Only personal guarantee of the borrower.
- T2 loans: Mortgage of collateral (As per bank’s own credit policy).
Pricing for Working Capital & Term Loans:
- T1 loans: 6% per year fixed for borrower.
- T2 loans: 8% per year. fixed for borrower.
Sectors and Products:
- All sectors. Standardized schemes/ projects/ undertakings designed by SMEDA, or projects designed by private sector service providers or by individuals themselves.
- The processing fee will be Rs.100 (non-refundable).
How to apply:
- The applicant shall apply directly via Prime Minister Kamyab Jawan portal