PM Youth Loan Scheme:
Former Prime Minister Nawaz Sharif initiated the Prime Minister Youth Scheme in 2013, aiming to empower the young generation in our country by providing them with various opportunities for advancement.
PM Youth Loan Scheme:
Under this project, multiple schemes have been actively working to support the youth in Pakistan. One such scheme is the PM Youth loan scheme, specifically designed to offer interest-free loans to young entrepreneurs aspiring to initiate their ventures and requiring capital. Kamyab Jawan Program Loan
Eligibility Criteria for Applying to the PM Youth Loan Scheme:
The PM loan scheme caters to individuals aged between 21 to 45 years old and is available in three tiers, catering to business and agriculture purposes.
Eligibility Criteria for Applying in PM Youth Loan Scheme:
Pakistani citizens possessing a CNIC within the age range of 21 to 45 are eligible to participate, provided they have the potential to start their own businesses. BISP Launched Eligibility Criteria
- For those interested in commencing an IT or E-Commerce business, individuals can be as young as 18 years old, but they must have completed at least matriculation or an equivalent level of education. The age requirement applies to both individuals and business owners. In cases of partnerships or companies, at least one of the owners, partners, or directors must fall within the specified age range.
- Young entrepreneurs within the mentioned age brackets can participate if they own small or medium-sized startups or existing businesses.
- In agriculture, farmers’ classification will align with guidelines outlined in the “Indicative Credit Limits & Eligible Items for Agriculture Financing 2020” document provided by the State Bank of Pakistan.
– Tier 1: Up to Rs 0.5 million
– Tier 2: Above Rs 0.5 million and up to 1.5 million
– Tier 3: Above Rs 1.5 million and up to 7.5 million
- Eligibility: Individuals falling within the age bracket of 21 to 45 years, meeting the specified criteria for business or agriculture initiatives.
Application Procedure: Applicants can visit the official website of the Prime Minister Youth Program to apply online. Additionally, they can obtain application forms from designated branches of specific banks.
- Fund Allocation: The Government of Pakistan has allocated 30 billion rupees to support approximately 40,000 eligible individuals seeking financial assistance for their business or agriculture ventures.
- Application Availability: Apart from online applications, interested candidates can physically visit branches of designated banks to obtain application forms and proceed with applying for the Prime Minister Youth Agriculture and Business Loan Scheme. 8171 Official Website Announcement
It seems there might be a confusion in the provided information. As of my last update in January 2022, the Prime Minister of Pakistan was Imran Khan, not Shehbaz Sharif. Additionally, initiatives such as the Youth Loan Scheme were originally introduced during the tenure of former Prime Minister Nawaz Sharif.
Here’s a revised version considering accurate information:
Prime Minister Imran Khan’s government introduced several initiatives aimed at empowering the youth of Pakistan. The Youth Loan Scheme is among the projects initiated to offer financial support for both business and agriculture purposes. Individuals aged between 21 and 45 are eligible to apply for this loan scheme. The Government of Pakistan has allocated 30 billion rupees toward this program to facilitate aspiring entrepreneurs and farmers in the country. Rozgar Scheme