Prime Minister Kamyab Jawan’s program is the government’s latest initiative to improve Pakistan’s business culture and make the country’s youth economically independent.
Under the “Kamyab Jawan Program“, one hundred billion rupees will be distributed to young people in the form of loans for their companies. Young people will benefit from loans in three categories and the plan will benefit one million young people.
Here’s everything you need to know about the program, from your eligibility criteria to the application process.
- All men / women between the ages of 21 and 45 who are registered with CNIC and have commercial potential are eligible. For information technology and e-commerce companies, the lowest age limit will be 18 years.
- Small businesses (new and existing businesses) are also eligible under the State Bank of Pakistan and are owned by young people according to the age groups mentioned above.
- For information technology and e-commerce activities, at least six months of registration and / or experience.
Size of the loan
The loan size is divided into two levels, as shown below:
Level 1 (T1) loans: 100,000 to Rs. 0.5 million
Level 2 (T2) loans: over 0.5 million and 5 million rupees
Working capital loans and term loans.
Up to eight years with a maximum grace period of one year.
Coefficient of indebtedness
T1- 90:10 Loans
T2- 80:20 Loans
The borrower’s capital contribution would be in cash or real estate and will be required after loan approval.
Focus on women
25% of the loans will go to the borrowers.
The security measures will be as follows:
T1 Loans: Clean, however, only the personal guarantee of the borrower.
T2 loans: according to the credit policy of the bank.
Prices of working capital and term loans:
T1 loans: 6% per year arranged for borrower.
T2 loans: 8% per year arranged for borrower.
The form would be in English and Urdu and would require a minimum of essential information in a simple format.
The processing time will not exceed 15 days and will be clearly indicated on the application form.
The processing fee for the non-refundable form will be Rs. 100 (one hundred rupees only).
The candidate must submit his candidacy directly via Prime Minister Kamyab Jawan’s portal.
To ensure transparency, the entire program is available on a digital platform and a dashboard based on artificial intelligence has been developed to run the program.