PM Kamyab Jawan Program: Interest free loans criteria revealed by federal government
ISLAMABAD - PM Kamyab Jawan Program, Interest free loans criteria revealed by federal government.
Prime Minister Imran Khan Kamyab Jawan Programme has broken all previous records as it became the trending topic on the internet. Millions of people visited the website and applied for the Programme.
Special Adviser to Prime Minister on Youth Affairs Usman Dar shared some stats which says that 259,767 online applications have been received for the loans under Kamyab Jawan Programme.
Imran Khan was very confident as he announced this new initiative for the youth of Pakistan, he said *“Rs10bn will be used for teaching skills to 100,000 young people. Under the programme, the prime minister announced, 100 labs will be established for distance learning.”*
*“The programme will also arrange internships through which 25,000 young people will be connected with industries,” He added, “2,000 teachers will be sent abroad for international-level training.”*
The application for Kamyab Jawan Programme can only be submitted online. It is very easy for people to apply in a few minutes while sitting at home instead of standing in long lines outside banks like in the past. Here is the eligibility criteria for the loan announced by the government,
- Only Pakistani citizens who have the ID card can apply for loans under Kamyab Jawan Program. - The age limit for a loan application is 21 to 45 years at the time of application submission. However, young people who want to start a business related to IT or e-commerce has to be at least 18 years old. - There is no minimum educational qualification requirement but for those who are applying for business, they need to have a certain degree, diploma or certificate. - The government has set a 25 percent quota for women, which would be Rs25bn from 100 billion Rupees programme. - A Person who is an employee at a private firm can also apply. - Startups and small business enterprises can also apply. - Every person from the same family can apply for a loan individually. - A person can only get a loan for once. - A guarantor of someone’s loan application cannot apply for himself. - Any family member or relative cannot be a guarantor. - A person can only be a guarantor for only one loan application, not more than that.
An application will take 30 working days in processing.