Changes made in TORs of PM Kamyab Jawan SME Lending Program

Shares
Changes made in TORs of PM Kamyab Jawan SME Lending Program

ISLAMABAD: The government has changed the name of “Prime Minister’s Kamyab Jawan SME Lending Program” with “Prime Minister’s Kamyab Jawan Youth Entrepreneurship Scheme (YES), it was learnt reliably.

Prime Minister’s Office in consultation with State Bank of Pakistan (SBP), National Bank of Pakistan (NBP), Bank of Punjab (BoP) and Bank of Khyber (BoK) and Small and Medium Enterprises Development Authority (SMEDA) has proposed changes in TORs of Prime Minister’s Kamayab Jawan SME Lending Program.

For effective monitoring, YES online application form is prescribed through Kamyab Jawan portal. According to documents, the purpose of the portal is to provide a centralized platform through which applicants would be able to apply directly to the relevant banks.

Sources close to the matter told Pakistan Today that the total amount to be spent on this lending scheme will be Rs 200 billion while approximately 138,000 applicants will benefit from the five-year scheme. Furthermore, YES will help in fulfilling the PM’s target of employing 2 million people, which was approved by the PM through National Financial Inclusion Strategy.

Economy