The Kamyab Jawan Program, introduced by the national government of Pakistan, aims to help young people succeed. It offers financial support to youth who want to start their own businesses. To apply for this support, eligible individuals can use the Successful Youth Portal.
This government program provides a safety net for young people, giving them the opportunity to begin their own ventures. It’s expected to help Pakistan’s economy grow and overall development.
Kamyab Jawan Details
Understanding the monetary wants of younger entrepreneurs and small and medium-sized companies, the Government of Pakistan launched the Prime Minister’s Kamyab Jawan Entrepreneurial Scheme. This financing scheme provides inexpensive financing choices for youth to ascertain and strengthen their companies.
As per the federal government’s directive, 25% of the financing shall be reserved for girls clients, recognizing the important position girls play within the nation’s improvement.
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The Successful Youth Program, initiated by Prime Minister Imran Khan, aims to help young people improve their lives by giving them opportunities to earn money instead of being unemployed. It offers them loans without needing collateral, with lower interest rates ranging from 6% to 3%.
Through the Successful Youth Program, young individuals can easily apply for loans to support their businesses. This program is made to assist youth from different backgrounds and cultures across the country, including both national and regional levels, to make sure everyone has a chance to benefit.
Eligibility Criteria for Kamyab Jawan
- People in Pakistan who have a valid National Identity Card (CNIC) and are between 18 and 45 years old can start their own businesses. This applies to both men and women.
- If you want to start an IT or e-commerce company, you need to be at least 18 years old. You should also have a basic education of at least Matriculation or equivalent.
- If you’re a young person within the specified age range, you can start a Small and Medium Enterprises (SME) startup or take over an existing business.
- For agriculture-related ventures, your eligibility will be based on the credit limits set by the State Bank of Pakistan (SBP) and the criteria outlined in the Agriculture Financing policy of 2020.
The Kamyab Jawan Loan Types
The program provides long-term loans for equipment and gear, working capital loans, working finance, and enterprise leasing for domestically manufactured autos.
Loan Tenure
- The mortgage tenure might be as much as eight years.
Loan Sizes
Loans shall be disbursed in three tiers as follows:
- T1 Loans: Up to at least one million rupees (1 million).
- T2 Loans: Above a million rupees (1 million) as much as ten million rupees (10 million).
- T3 Loans: Above ten million rupees (10 million) as much as twenty-five million rupees (25 million).
Application Procedure for Kamyab Jawan
To apply for the Kamyab Jawan Program, individuals can visit the official website and fill out a simple application form in either English or Urdu. This form will ask for important information in an easy-to-understand way.
After submitting the application, it takes at least 30 days for the processing. There’s a fee of Rs. 100, which is non-refundable and covers the form processing. Additionally, there’s a fee for verifying your CNIC (National ID Card) online through NADRA.
Once you’ve submitted the application, you can approach specific banks to get financing. Whether your financing is approved or not depends on a few factors: your profile, whether you meet the eligibility criteria set by the government program, and the financial policies of the bank.
The bank will send you an SMS on the phone number you provided to let you know whether your application is approved or not. If you’re approved, you’ll get financing to buy things like assets or stock in line with Shariah guidelines.
Kamyab Jawan Program Applicants
For extra info, people can contact the helpline at 111-267-200 or name 042-32560315 for his or her Kamyab Jawan Program utility on the Bank of Punjab.
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