Women entrepreneurs urged to tap PMYBL

LAHORE: A strong need has been stressed to rev up the awareness drive about Prime Minister Youth Business Loan (PMYBL) programme especially among women, who, despite a quota of 50 percent, have not applied even close to it, mainly because the word failed to reach them in its entirety, a statement said on Wednesday. 

“Only 14 percent of the total applications received so far came from women,” an official revealed at the first event of a countrywide campaign to attract women entrepreneurs towards PMYBL at Small and Medium Enterprises Development Authority SMEDA office held under the aegis of its Women Entrepreneurs Development Cell.

Chairman Senate’s Standing Committee on Industries and Production Senator Hiayatullah, Senator Taj Haider, Senator Mrs. Khalida Parveen, Senator Mst. Kalsoom Parveen, Ms. Shazia Suleman, President Women Chamber of Commerce and Industry Lahore Chapter and Sher Ayub, CEO SMEDA attended the seminar. 

Appreciating the SMEDA for its efforts for interacting with women entrepreneurs about the incentives offered under the scheme, the senators unanimously urged the women to become an active part of the national economy by entering different fields of the SME sector. “PMYBL is the best option for financial support of the female young entrepreneurs,” a member of the senate said. 

CEO SMEDA Sher Ayub, replying to a question regarding further easing of the scheme for women to increase number of female applicants, said he would take up the suggestion with the concerned quarter for consideration. “SMEDA will continue direct communication with women entrepreneurs on government support facilities for entrepreneurship development with a special focus on PMYBL.”

Earlier, the presentation given by Provincial Chief SMEDA-Punjab Hassanien Javed revealed the PMYBL had a 50 percent quota for women aged 21-45 years and 5 percent quota for martyrs’ widows and disabled persons. 

He further said the mark-up on PMYBL was 8 percent, which has been reduced to 6 percent. “The difference of the mark-up as per the market rate would be paid by the government of Pakistan to the banks”, he said adding that only one reference and one guarantor is required for the loan. “Since the loan is purely a business credit, therefore, applicants would have to produce a viable business plan or a prefeasibility study, for which over 100 business feasibilities are available on SMEDA website,” said he while delivering the presentation.