ISLAMABAD -- Over 52 percent of the country's population, would be direct beneficiary of the Prime Minister's 'Kamyab Jawan Prgram', with 25pc of total loans to be given to the young females for establishing their own small businesses.
According to an official of the Ministry of Youth Affairs, this unique and ambitious program aimed at providing soft loans to the youth of the country and creating job opportunities for them with having follow up strategy.
He said that although similar youth support program had also been launched in the past, but they could not bear fruit due to lack of an effective and comprehensive strategy while under this program, a number of schemes will be introduced for success of the program.
He said that an amount of Rs 100 billion has been allocated for kamyab jawan program to facilities one million youth across the country. Online Portal has started on website in which a person can apply for loan of Rs 50,000 upto Rs 50,00,000 on easy returned back policy.
The official said that for effective monitoring, online application form is prescribed through Kamyab Jawan Portal. The purpose of the portal is to provide a centralized platform through which applicants would be able to apply directly to the relevant banks.
He said that the portal will be hosted and controlled by National Information Technology Board, Ministry of IT and Telecommunication. Only authorized stakeholders for specific purposes will have an access to the portal like individuals for the purpose of applying for loans, banks for the purpose of receiving applications, SMEDA for providing their hand-holding or guidance support wherever necessary and PM Youth Office for retrieving information for monitoring purpose.
Moreover, external audit of the portal from expert IT auditors will be conducted on annual basis to ensure that online portal is used by the concerned stakeholders for intended purpose only and unauthorized use of the online portal, if any, is identified in a timely manner.
The official said that under this new program, subsidized business loans will be provided to the potential young entrepreneurs for the promotion of SME sector in the country.
He said that for the very first...