ISLAMABAD – Special Assistant to the Prime Minister on Youth AffairsMuhammad Usman Dar Friday said Youth Entrepreneurship Scheme (YES) of PrimeMinister’s Kamyab Jawan Programme has been given overwhelming response bythe youth across the country.
“Around 433,149 loan applications have been received online within a weekunder the scheme,” said Usman Dar while talking to APP.
He said the government had successfully managed the cyber-attack of Indianson “Kamyab Jawan Programme” digital portal, which showed the success of theinitiative.
He said that a large number of youth had appreciated this step of thegovernment as daily over 50,000 applications were being received.He said that loan would be given to the youth only on merit without anypolitical affiliation.
He said that all Pakistanis including government employees of age from 21years to 45 years could apply for loan. He said that 25 percent of totalloans would be given to the young females for establishing their own smallbusinesses.He said that all applications would be submitted online and SMS would bedelivered on given numbers with confirmation details for assigning allselected bank branches, he added.
He said that this unique and ambitious program aimed at providing softloans to the youth of the country and creating job opportunities for themwith having follow up strategy.
He said that although similar youth support program had also been launchedin the past, but they could not bear fruit due to lack of an effective andcomprehensive strategy while under this program, a number of schemes wouldbe introduced for success of the program.
He said that an amount of Rs 100 billion has been allocated for ‘kamyabjawan program’ to facilities one million youth across the country.
Online Portal has started on website in which a person can apply for loanof Rs 50,000 upto Rs 50,00,000 on easy returned back policy.
He said that for effective monitoring, online application form wasprescribed through Kamyab Jawan Portal. The purpose of the portal is toprovide a centralized platform through which applicants would be able toapply directly to the relevant banks.
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He said that the portal would be hosted and controlled by NationalInformation Technology Board, Ministry of IT and Telecommunication.
Only authorized stakeholders for specific purposes will have an access tothe portal like individuals for the purpose of applying for loans, banksfor the purpose of receiving applications, SMEDA for providing theirhand-holding or guidance support wherever necessary and PM Youth Office forretrieving information for monitoring purpose.
Moreover, external audit of the portal from expert IT auditors will beconducted on annual basis to ensure that online portal is used by theconcerned stakeholders for intended purpose only and unauthorized use ofthe online portal, if any, is identified in a timely manner.
He said that under this new program, subsidized business loans would beprovided to the potential young entrepreneurs for the promotion of SMEsector in the country.
He said that for the very first time in Pakistan, through the platform ofPM Kamyab Jawan program, the government had created opportunities to openthe doors of socio-economic empowerment of youth.
He said that under the program ‘Skill for All Program,’ technical andvocational training would be imparted.
He said that another initiative under the Kamyab Jawan Program would be‘Startup Pakistan Program’ and under this program, potential youngentrepreneurs would be trained and mentored to conceive, incubate, andmature their business plans through access to digital incubation platform.
Usman Dar assured that the program was completely transparent andmerit-based.
