Kamyab Pakistan Program

The Kamyab Pakistan program has been initiated by the former government in Pakistan. This initiative was taken keeping in view the unemployment rate in our country. Under this program, interest-free loans as well as low markup rates loans are given to young entrepreneurs.

This was done especially after COVID-19 when unemployment in the country saw its peak. The aim is to empower young businessmen and women who have the competencies to run their businesses. In this article, I‘ll be sharing all the necessary details of this program. The process of registration, eligibility criteria, and terms and conditions of this initiative, all has been taken care of in this article.

Prime Minister’s Kamyab Jawan Youth Entrepreneurship Scheme

The former prime minister took steps aimed at reducing poverty in the country. The government introduced such programs that promote economic development. The prime minister’s Kamyab Jawan youth entrepreneurship scheme is also one of them.

Under this program, new businesses are given low-markup loans. So that these businesses can flourish and our economy can get better. The program targets young entrepreneurs who have skills and enthusiasm. Those who can take the pressure of running a startup and making it a success. Those who are at budgeting and financial management and are willing to show their capabilities.

Policies & Procedures Kamyab Pakistan Program 2024

1. This program runs with a set of certain policies and procedures. Under this program, those whose age is between 21 years to 45 can apply and get loans. This rule is for the business model of single-owner companies.
2. Those who wish to incorporate companies in the partnership model have age limit relaxation. In this case, only one of the partners should fall under the age limit.
3. To further improvise the program, authorities decided to relax this age limit. Those young enthusiastic entrepreneurs who want to start their e-commerce ventures or want to step into the IT industry. In this case age limit is between 18 years to 45 years.
4. The initiative grants loans on a long-term basis as well as it also provides locally manufactured vehicles on a lease basis.
5. It is important to note here that the financing under Prime Minister’s Kamyab Jawan Youth Entrepreneurship scheme has been launched in 3 stages.
6. In the first case, loans are given from Rs. 100,000 up to R. 1 million. In this case, an annual interest rate of 3% applies.
7. In the next stage, a loan amount from 1 million above up to Rs 10 million is given. An annual rate of 4% applies to this slab.
8. In the last stage, an amount above Rs. 10 million up to Rs 25 million is given with a markup rate of 5 percent annually.
9. The period for this financial scheme is up to 8 years with the first year being a grace period.
10. The initiative specifically targets new businesses as the debt-to-equity ratio of new businesses is 90:10 for the first stage and 80:20 for later stages. Whereas, this ratio for already existing businesses is zero. 

Latest and Updated Method of Registration Eligibility 8171 Ehsaas

To apply to this program and to be able to register, you must follow the requirements and fall under the set standards. If you want to apply, you can visit the website of Kamyab Jawan or the State Bank of Pakistan. Apply with your information and check the latest updates and application status by sending your ID to 5771.

You must have business potential, required proficiency, and enough equity to start this venture. Also, if you want to borrow from the government, then you must belong to a low-income class family.

Your age should be within the limit. If you possess residency in another country, you cannot apply. If your police clearance certificate shows any kind of bad record, then there are chances that your application might get rejected. This initiative also aims at providing relevant and necessary skill development training sessions that might be helpful. The latest updates show that new lot of registrations are open. Get your application form and apply for this program via the web portal of Kamyab Jawan or the State Bank of Pakistan.

FAQs

What is ehsaas 8171 kamyab Pakistan program?

The Ehsaas 8171 Kamyab Pakistan program is a financing initiative under which long-term loans are given to people who want to start their businesses. Those who are between 21 to 45 years of age can apply if they are eligible and can fulfill the legal requirements of this program.

How to apply for the Prime Minister’s Kamyab Jawan youth entrepreneurship scheme?

The prime minister’s Kamyab Jawan youth entrepreneurship scheme provides financing in three tiers. The first stage provides loans up to 1 million and charges 3% interest, the second stage provides finance of Rs 10 million and demands an interest rate of 4%, and the last tier provides loans of Rs 25 million with a 5% rate. 

What terms and conditions are there in this program and what policies should we follow?

The first stage of a loan doesn’t demand any kind of security except for a personal guarantee. The subsequent stages demand a guarantee that the bank will pay the money. In case you have applied for vehicle financing, then they will mortgage your vehicle as security.

Final Verdict

The Prime Minister Kamyab Jawan Program youth scheme is under the umbrella of Ehsaas Programme 8171. This welfare and economic development initiative addresses the need to increase business opportunities, introduce young entrepreneurs into the market, and make way for a digitally transformed future.

Under this thought-provoking beginning of economic upright in our country, the government grants long-term finance to businessmen and women aged between 21 to 45 years. The idea behind this is to strengthen them so that they can earn and contribute to the prosperity of Pakistan. In this way, saturation can be maintained, employment can be generated, and hunger and poverty can be reduced.