Islamabad:Special Assistant to the Prime Minister (SAPM) on Youth Affairs, Muhammad Usman Dar has urged youth to apply for loans under Youth Entrepreneurship Scheme (YES); an initiative launched under the umbrella of PM Kamyab Jawan Programme.
The government has an ambitious plan of giving Rs100 billion loans to young and aspiring youth having the requisite business plans and skills, said the SAPM while chairing a meeting here at PM Office, says a press statement issued here on Tuesday.
YES was recently restarted after inclusion of partner banks from the private sector and offering further facilities including reduction in markup rates, Islamic Banking, etc. to encourage young entrepreneurs benefit from the scheme.
The SAPM emphasized that youth applying for loans under YES must have proper and workable business plans to enable them in approval of loans. He said the scheme has huge potential to enhance business activities in the country and create employment opportunities as well.
25% share of the loans is reserved for women entrepreneurs, said Dar. He said after reopening of applications for loans under YES, 56, 812 online applications, from across Pakistan, have been received to partner banks through www.KamyabJawan.gov.pk.
Partner banks in the scheme are Albaraka Bank Limited, Allied Bank Limited, Askari Bank Limited, Bank Al Falah, Bank Al Habib, Bank of Khyber, Bank of Punjab, Bank Islami Pakistan Limited, Dubai Islamic Bank Limited, Faysal Bank Limited, First Woman Bank Limited, Habib Bank Limited, Habib Metropolitan Bank Limited, JS Bank Limited, MCB Bank Limited, MCB Islamic Bank Limited, Meezan Bank Limited, National Bank of Pakistan, Sindh Bank Limited, Soneri Bank Limited and United Bank Limited.