ISLAMABAD: *PTI government launches one of the largest ever Youth soft loanprogramme worth over Rs 100 billions.*
Around 200,000 to 300,000 budding entrepreneurs are likely to get benefitof the Youth Entrepreneurship Scheme (YES), a component of the government’sflagship Kamyab Jawan project launched to offer soft loan facility to thosehaving workable business ideas.
“Only 15 to 25 per cent of the total applicants may get the concessionaryloans under the ‘YES’ as it seems that some 50 to 60 per cent apparentlyapplied in haste and got rejected for having no business plans,” SpecialAssistant to the Prime Minister on Youth Affairs Muhammad Usman Darinformed state run new agency while highlighting the current statistics ofthe loan scheme.
‘YES’ was launched under the banner of Kamyab Jawan Programme in Octoberlast year under which Rs 100 billion allocated for the youth and loansranging from Rs 100,000 to Rs 5 million would be disbursed among the youthcoming up with practicable business ideas.
“Some 1.3 million youth applied for the loan scheme in merely 15 days whichbrings it into international spotlight as a team of the United Nations hasdiscussed this Kamyab Jawan programme for attracting such a largeproportion of youth, the special assistant said.
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The scheme was almost in the launching process as the applications werebeing scrutinized and verified by making phone calls, doing Smart MessageService (SMS) and carrying out a third-party verification of the applicants.
He assured that the allocated money belonged to youth and would be spent ondeserving one.
He said the loans would be distributed on equitable basis as Rs 25 billionhad been dedicated for the women under the YES exclusively. Initially, thesoft loans would be distributed in Sindh and then extended to the otherprovinces.
