KARACHI: Prime Minister’s Kamyab Jawan Program, launched by Prime Minister Imran Khan last week, offers soft loans to the unemployed youth of the country for business and other self-employment opportunities.
It is expected that over 52 percent of the Pakistani population will benefit directly through the Kamyab Jawan Program Scheme.
Also, 25 percent loans will be provided to young women entrepreneurs for establishing small businesses.
It is anticipated that Kamyab Jawan Program will benefit over one million youth.
- Pakistani citizens can apply for loans under Kamyab Jawan Program. However, this scheme is only for resident Pakistanis.
- The minimum age for the applicants under this scheme is 21 years at the time of application submission. However, it is relaxable to 18 years in case of applicants applying for IT or e-commerce related businesses.
- The maximum age limit is 45 years at the time of application submission.
- There is no general requirement of minimum educational qualification. However, in case of businesses which compulsorily require certain qualification, certifications, diplomas, authorizations or licenses, the same must be held by the applicant.
- Applicants of all genders are offered equal opportunities. However, considering the ground realities, a minimum of 25 percent share on aggregate basis of all loans is kept for female candidates.
- Persons employed in private jobs can also apply.
- Startups as well as existing micro and small business enterprises can apply.
- More than one person of the same family can apply for this loan individually and independently.
- A person cannot avail more than one loan.
- Anyone guaranteeing a loan for other person cannot himself apply for loan under this scheme.
- Applicant’s Husband/Wife/Father/Brother/ Son/ Daughter/ Son in law/ Daughter in law/Father in law/Mother in Law cannot be his/her guarantor for loan.
- A person can be the guarantee only for one loan/applicant.
It may be noted here that all submitted applications will take 30 working days’ process.