During the meeting of the federal cabinet chaired by the Prime Minister Imran Khan on Tuesday, an ambitious programme titled ‘Kamyab Jawan Programme’ to empower the youth of the country economically got the green signal.
While addressing the media, the special assistant to Prime Minister on Information and Broadcasting Firdous Ashiq Awan said that under the ‘Kamyab Jawan Programme’, the youth of Pakistan will be able to get a loan and the range of the amount would be between Rs 100,000 and Rs 5 million.
According to the details, the government has divided the programme into two categories. Under the first category, banks will provide a loan up to Rs 500,000 at six per cent markup with lending equity of ten per cent of the amount applied.
As per the details of the second category, an applicant will be able to get a loan up to Rs 5 million at a markup of eight percent and the equity ratio of 20 percent.
The special assistant to PM said that 25 per cent of the loans will be given to the women under the programme.