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Kamyab Jawan Program Prime Minister (Loan) Youth Entrepreneurship Scheme (YES)

Kamyab Jawan Program Prime Minister (Loan) Youth Entrepreneurship Scheme (YES)

Prime Minister Imran Khan on Thursday launched the first phase of the "Kamyab Jawan Programme" for youth across the country to support them through technical and financial assistance. The prime minister while addressing the inauguration ceremony in Islamabad announced that Rs100 billion have been allocated for youth loans under the programme. He said that out of the total amount, Rs25bn have been earmarked for women. Prime Minister Imran announced that loans worth up to Rs100,000 will be interest-free, while the loans in two other categories will be concessionary loans. The premier added that one million young people will be facilitated under the programme.

Prime Minister’s Kamyab Jawan – Youth Entrepreneurship Scheme (YES)

In order to uplift the youth of the country by offering opportunities to utilize their entrepreneurial potential to the fullest, Government of Pakistan is offering low cost business loans up to Rs. 5,000,000/-

Loans can be availed for setting up of new business or expansion of existing one. All eligible persons can apply for the loan by visiting designated online portal (to be announced by GOP) or seek assistance from all participating banks i.e. National Bank of Pakistan, The Bank of Khyber and The Bank of Punjab. No other mode of application submission other than through designated online portal should be acceptable.

Salient Features of YES
Eligibility Criteria
  • All men/women/transgenders holding CNIC, aged between 21 and 45 years with entrepreneurial potential. For IT/E-Commerce related businesses, the lower age limit will be 18 years.
  • Small Enterprises (startups and existing businesses) as per definition of SBP and owned by youth as per above mentioned age brackets.
  • For IT/E-Commerce related businesses, at least matriculation and/or experience of at least 6 Months will be required
Focus on Women 25% of the loans will go to women borrowers
Loan Size and Security Loan Amount Security Requirement
Tier I (T-1) Rs. 100,000/- to Rs. 500,000/- Clean loan, only personal guarantee of the borrower
Tier II (T-II) Rs. 500,001/- to Rs. 5,000,000/- 1. Commercial Vehicle
2. Gold Ornaments
3. Government Securities
4. Mortgage of Property
Loan Type
  • Working Capital Loans
  • Term Loans
Loan Tenor Up to 8 Years with Maximum Grace Period of up to 1 Year
Debt to Equity Ratio
  • T-I Loans = 90:10
  • T-II Loans = 80:20
  • The borrower’s contribution of equity will be in the form of cash or immovable property and will be required after approval of the loan.
Pricing
  • T-I Loans: Fixed @ 6% per annum
  • T-II Loans: Fixed @ 8% per annum
Fees & Charges
  • Processing Fee: Rs. 100
  • Other Charges: At Actuals
  • Charges of all sorts will only be payable by successful applicants

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.

 

Eligibility Criteria:

  • 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.

Focus on Women:

  • 25% of the loans will go to women borrowers. 

Loan size:

  • 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.

Loan type:

  • Working capital loans and term loans

Loan Tenor:

  • Up to 8 years

Grace Period:

  • 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 Requirements:

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:

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.

Processing Fee:

  • The processing fee will be Rs.100 (non-refundable).

How to apply:

 

In case of any query please visit your nearest BOK branch or contact on the following numbers:

  • 24/7 call center 021-111 265 265

  • 091-5284245, 091-5284244 

For Complaints please contact:

Mr. Syed Muhammad Awais, Manager Complaint Management Unit.

Phone: 091 - 5253867

Email: complaints@bok.com.pk

UAN: +92-91-111 95 95 95

Website: www.bok.com.pk/contact

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Since becoming PM, he has created more programs than the number of jobs, Phr be Khan Khan hy.

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