He stated the Youth Entrepreneurship Scheme (YES) of Prime Minister’s Kamyab Jawan Program has been given an overwhelming response by the youth across the country.
“Around 433,149 loan applications are received on-line in just a week to avail the scheme,” said Usman Dar.
Usman Dar alongside Chairman National Assembly standing committee on Finance Asad Umar chaired a thanksgiving meeting with the heads of taking part bodies and his team members, in order to appreciate their efforts for the prosperous launch of Kamyab Jawan Program and Youth Entrepreneurship Scheme (YES) on 17th October by the Prime Minister.
Under the ‘Kamyab Jawan Programme’, 100 billion rupees are going to be distributed among youth as loans for his or her business ventures. The youth are going to be provided loans beneath 3 classes and also the scheme can benefit 1,000,000 youth.
Here is all you would like to grasp regarding the program, from its eligibility criteria to the application method.
- All men/women holding CNIC, aged between 21 and 45 years, with entrepreneurial potential are eligible. For IT/ E-Commerce connected businesses, the lower age limit is going to be 18 years.
- Small enterprises (startups and existing businesses) as per the definition of State Bank of Pakistan and owned by youth as per on top of mentioned age brackets are also eligible.
- For IT/E-Commerce connected businesses, a minimum of matric and/or experience of a minimum of six months.
Size of the loan is divided into 2 tiers, as under:
- Tier 1 (T1) loans- 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 eight years with a maximum grace period of up to at least one year.
Debt to Equity Ratio
- T1 loans- 90:10
- T2 loans- 80: 20The borrower’s contribution of equity would be in the form of cash or unmovable property and can be required once approval of the loan.
Focus on Women
25 percent of the loans can go to women borrowers.
Security arrangements are going to be as under:
- T1 loans: Clean, however, solely personal guarantee of the recipient.
- T2 loans: As per the bank’s own credit policy.
Pricing for working capital and Term Loans:
- T1 loans: 6% p.a. fixed for the recipient.
- T2 loans: 8% p.a. fixed for the recipient.
- The form would be both in English and Urdu and require minimum essential information with a simple format.
- The processing time will not exceed 15 days and will be stated clearly in the application form.
- The non-refundable form processing fee is going to be Rs. 100 (Rupee one hundred Only).
- The applicant shall apply directly via Prime Minister Kamyab Jawan portal i.e
To ensure transparency, the whole program is made available on a digital platform and a scorecard has been developed on the basis of artificial intelligence to run the program.