ISLAMABAD: Kamyab Jawan Program Phase 2 received approval from PM Imran Khan after the successful launch of Phase 1 last year.
The launch of Kamyab Jawan was to provide opportunities for the bright talented and deserving youth of the nation to stand on their feet. Rather than looking for job opportunities, he Kamyab Jawan Program provided opportunities to start up their own business.
The details have been discussed by Special Assistant to the Prime Minister on Youth Affairs, Usman Dar with the PM Imran Khan on Tuesday.
Usman Dar has received directions to immediately launch the Kamyab Jawan Program Phase 2.
An amount of Rs. 25 Billion is released by the Federal Government.
The State Bank of Pakistan has already issued circular to all banks in this regard.
What’s New in Kamyab Jawan Program phase 2
The loan amount for Kamyab Jawan Phase 2 is increased from Rs. 5million to Rs. 20.5 million.
The markup for Kamyab Jawan Phase 2 is reduced from 6% to 3% only.
Usman Dar States
Special Assistant to the Prime Minister on Youth Affairs, Usman Dar said on the occasion that the talented and deserving youths of the nation can avail loan of Rs.25 million for their businesses. The decision is taken considering the coronavirus led economic challenges in the country.
He also said Rs.100 billion are allocated for the youth despite prevailing economic constraints, the PM Imran Khan has also increased the loan quota from Rs.5 million to Rs.25 million.
He also highlighted the the decrease in the mark up which he said is the lowest value in the history of Pakistan along with Rs.30 billion allocated for skilled based education.
Kamyab Jawan Program
Kamyab Jawan Program was launched last year by the Prime Minister Imran Khan. The main objective of the program was to provide self-employment opportunities for the people of Pakistan.
All Pakistani citizens men and women falling in the age bracket of 18 years to 45 years are eligible if they have the CNIC.
The loan tenure for Kamyab Jawan was eight-years with a grace period of one year.
All men/women holding CNIC, aged between 21 and 45 years with entrepreneurial potential are eligible. For IT/ E-Commerce related businesses, the lower age limit will be 18 years.
Small enterprises (startups and existing businesses) as per the definition of SBP and owned by youth as per the above-mentioned age brackets are also eligible.
For IT/E-Commerce related businesses, at least matriculation and/or experience of at least six months.
To download the form for Kamyab Jawan Program click the link below.