To uplift the Pakistani youth, PM has launched a program, Youth Entrepreneurship Scheme (YES) Phase-II. This program has started under the banner of Kamyab jawan. The YES program is a step towards Imran Khan’s dream of creating 10 million jobs.
Under this scheme, the applicants will receive various loans from the government for the start-ups. This year, the government increased the loan limit up to 25 million. Twenty-one banks are now involved in this program to make the process speedy and efficient.
The aim of the YES program is “Hunar Se Karobar Tak”. Youth will be able to collect the loans easily for their start-ups, small businesses, and existing enterprises.
YES program collaborations
Youth Entrepreneurship Scheme (YES) program developed with the collaboration of 03 central departments.
Pakistan Poverty Alleviation Fund (PPAF)
PPAF will look for the asset transfer program and the interest-free loan program.
State Bank of Pakistan (SBP)
SBP will work with three major banks ( National Bank of Pakistan, Bank of Punjab, and Bank of Khyber).
Small and Medium Enterprise Authority (SMEDA)
SMEDA will provide subsidized loans and necessary aptitude to youth to run a successful business.
Eligibility Criteria to Apply for Kamyab Jawan Loan Program:
If a candidate wants to receive a loan from the YES program, he/she would have to fulfill the following criteria.
- Candidates of the age group between 21-45 years are eligible for the YES program. For the IT sector, the required minimum age is 18 years old.
- For IT / E-Commerce related companies, it will take Matriculation and minimum of 6 months’ experience.
Beneficiaries of YES Program:
The loan under the YES program is for all the SME beneficiaries across Pakistan such as :
- Khyber Pakhtunkhwa
- Azad Jammu & Kashmir
About 25% of the loans are reserved for women entrepreneurs.
PM Kamyab Jawab Loan Size and Security:
Through Kamyab Jawan YES Program, candidates will receive the following amounts of loans.
|Tier-I (T-1)||Rs. 100,000/- to 01 Million|
|Tier-II (T2)||01 Million – 10 Million|
|Tier-III (T3)||10 Million – 25 Million|
See also: Punjab Rozgar Scheme 2020
The candidates will receive the loan up to 08 years with a grace period of one year.
Debt to Equity Ratio for new Business
For new businesses, the following debt to equity ratio is required
- T1 loans: 90: 10 @ 3% markup
- T2 loans: 80: 20 @4% markup
- T3 loans: 80:20 @5% markup
For the existing Business, candidates will not receive any equity contribution.
How to apply for Prime Minister Kamyab Jawan Loan Program 2nd Phase:
Here is the method to apply for Prime Minister Kamyab Jawan Loan Program 2nd phase.
- Interested candidates can apply online from the Kamyab Jawan website (www.Kamyabjawan.gov.pk).
- Candidates must fill all the information correctly.
- In case of a query, you can also see the FAQs available on the website.
- The form is available in both English and Urdu.
- If you have complaints, you can visit Pakistan Citizen Portal App.
Apply for the “Kamyab Jawan Program” immediately so that you don’t get late. For the latest news, visit FSc Online.