433,149 loan applications received within a week

Islamabad :Special Assistant to the Prime Minister on Youth Affairs Muhammad Usman Dar said Youth Entrepreneurship Scheme (YES) of Prime Minister’s ‘Kamyab Jawan’ Programme has been given overwhelming response by the youth across the country.

“Around 433,149 loan applications have been received online within a week under the scheme,” said Usman Dar while talking to this agency.

He said the government had successfully managed the cyber-attack of Indians on ‘Kamyab Jawan’ Programme digital portal, which showed the success of the initiative.

He said that a large number of youth had appreciated this step of the government as daily over 50,000 applications were being received.

He said that loan would be given to the youth only on merit without any political affiliation. He said that all Pakistanis including government employees of age from 21 years to 45 years could apply for loan.

He said that 25 per cent of total loans would be given to the young females for establishing their own small businesses.

He said that all applications would be submitted online and SMS would be delivered on given numbers with confirmation details for assigning all selected bank branches, he added.

He said that this unique and ambitious programme aimed at providing soft loans to the youth of the country and creating job opportunities for them with having follow up strategy.

He said that although similar youth support programme had also been launched in the past, but they could not bear fruit due to lack of an effective and comprehensive strategy while under this program, a number of schemes would be introduced for success of the programme. He said that an amount of Rs100 billion has been allocated for ‘Kamyab Jawan’ programme to facilities one million youth across the country.

Online Portal has started on website in which a person can apply for loan of Rs50,000 upto Rs50,00,000 on easy returned back policy.

He said that for effective monitoring, online application form was prescribed through ‘Kamyab Jawan’ Portal. The purpose of the portal is to provide a centralised platform through which applicants would be able to apply directly to the relevant banks.

He said that the portal would be hosted and controlled by National Information Technology Board, Ministry of IT and Te­le­­commun­ication.

Only authorized stakeholders for specific purposes will have an access to the portal like individuals for the purpose of applying for loans, banks for the purpose of receiving applications, SMEDA for providing their hand-holding or guidance support wherever necessary and PM Youth Office for retrieving information for monitoring purpose.