ISLAMABAD, Pakistan: The Pakistan Tehreek-e-Insaf (PTI)-led federal government has decided to launch the Second Phase of the Kamyab Jawan Program immediately and released Rs 25 billion for it.
The State Bank of Pakistan has issued a letter to all Commercial Banks of the Country.
The approval to launch the Second Phase of the Kamyab Jawan Program was accorded by Prime Minister Imran Khan after a meeting with his Special Assistant on Youth Affairs Muhammad Usman Dar.
For the Second Phase, the markup rate has been reduced to three percent from six percent.
The upper limit of loan stipulated for the youth under the Kamyab Jawan Program has also been enhanced to Rs 25 million from Rs 5 million.
In his remarks, Usman Dar said that the youth would be able to avail loans from Rs 100,000 to Rs 25 million under the program.
آج ملاقات میں وزیراعظم عمران خان نے کامیاب جوان پروگرام کو فوری شروع کرنے کی منظوری دے دی۔
وزیراعظم کی منظوری کے بعد کامیاب جوان پروگرام کے لیے فنڈز جاری کردئیے گئے ہیں۔
نوجوانوں کےلیے قرضے کی حد 2.5 کروڑ تک کردی گئی ہے۔
بغیر گارنٹی کے قرضے کی حد 5 سے بڑھا کر 10 لاکھ کردی گئی ہے۔ pic.twitter.com/ZWP8YPHQMh
— Usman Dar (@UdarOfficial) July 14, 2020
Usman Dar said that the federal government will give loans without a guarantee. He said that the upper limit of the loan without guarantee has been increased from Rs 500,000 to Rs 1 million.
The Special Assistant on Youth Affairs advised the youth to devise plans for initiating their businesses. He also urged the youth to take benefit of the program in these testing times.