Thursday May 23, 2024

Rs8b disbursed under Kamyab Jawan Programme

April 25, 2021

Islamabad : Senior Leader of Pakistan Tehreek-e-Insaf Muhammad Usman Dar Saturday said that at least Rs8 billion had been disbursed among the qualified entrepreneurs under the Youth Entrepreneurship Scheme (YES) of Prime Minister’s Kamyab Jawan Programme.

He confirmed the development in a tweet thread which highlighted the overall progress made under the YES of Kamyab Jawan Programme.

So far, 10,000 youth have directly been benefitted from distribution of Rs8 billion, while a total of about 70,000 are provided employment [with such disbursement], he tweeted.

Usman Dar added that the government, in line with the directions of Prime Minister Imran Khan, had expedited the cash disbursement process under Kamyab Jawan Programme throughout the country, indiscriminately.

The YES was launched in October 2019 under the banner of Kamyab Jawan Programme to provide the youth soft loans for initiation of their own businesses.

Recently, the government has enhanced the scope of YES which was meant to offer huge amount of concessionary loans ranging between Rs100,000 and Rs25 million to the youth.

Earlier, it was limited to Rs5 million only. According to the State Bank of Pakistan, under the YES, financing was segregated into three tiers. Under tier-1, loan limit is from Rs100,000 up to Rs1 million, whereas tier-2?s loan limit is from above Rs1 million and up to Rs10 million and under tier-3, loan limit is from above Rs10 million and up to Rs25 million.

For tier-1 loans, mark up rate is 3 percent, while markup rate for tier-2 loans is 4 percent, and for tier-3, mark up rate is 5 percent.