Over Rs 8 bln loans have been approved under Kamyab Jawan Programme: Usman Dar.

ISLAMABAD -- The Special Assistant to the Prime Minister (SAPM) on Youth Affairs Muhammad Usman Dar on Sunday said soft loans amounting to Rs 8.08 billion were approved under the Prime Minister Kamyab Jawan Programme's Youth Entrepreneurship Scheme (YES).

'We have disbursed Rs3.47 billion among over 5,700 successful entrepreneurs and the remaining approved amount of Rs. 4.6 billion is ready to be disbursed,' the SAPM told the media in an exclusive interview.

He added that over 6,874 loans, approved by the programme executing banks, would be disbursed once the applicants fulfilled the necessary formalities.

Usman Dar appreciated the qualified entrepreneurs for availing the opportunity after submitting workable business plans to the YES executing banks and said the timely disbursement of loans would pave the way for the government to achieve desired economic development and prosperity in the country.

He said the government had set a target to create 50,000 new jobs by year-end through a total disbursement of about Rs 10bln among the youth, aspiring to set up or expand businesses in more than 15 sectors.

To a query, he said so far 3,563 new businesses were opened under the YES, in addition to expansion of 2,183 existing ones.

The 'YES' was launched under the banner of Kamyab Jawan Programme in October 2019 with the allocation Rs 100 billion funds for facilitation of youth. Two tiers were introduced under the programme for disbursement of loans ranging from Rs100,000 to Rs 5 million among those, having workable business ideas.

The government expanded the soft-loan schemes...