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HomeBusinessYoungsters can take Rs. 75 Lakhs through PM Youth Business Loan Scheme

Youngsters can take Rs. 75 Lakhs through PM Youth Business Loan Scheme

On Tuesday, the PM Kamyab Jawan Entrepreneur Loan Scheme which includes the PM Youth Business and Agriculture Loan Scheme (PMYBS&ALS) was reinitiated by Shehbaz Sharif the Prime Minister (PM) for the youth on easy terms as they can apply for up to Rs 7.5 million.

The highly roused citizens for the loan endeavor can be women, differently-abled citizens,s and transgender.  

Prime Minister Shehbaz Sharif tweeted,  “I launched PM’s Youth Business & Agriculture Loan Scheme yesterday. This new scheme builds on a number of youth development programs. From PEEF loans to laptop schemes to self-employment schemes, PML-N has demonstrated its commitment to youth empowerment under the leadership of MNS.”

 

Jameel Ahmad, the Governor of the State Bank of Pakistan (SBP), said that “banks have been issued special instructions to process the loan applications on a priority basis.”

Sharing the details an individual can know about the PM Youth Business and Agriculture Loan Scheme.

Eligibility Standards

All Pakistani citizens including the people of Kashmir (AJK), Azad Jammu, and Gilgit Baltistan (GB) can apply for the loan. The person must have a valid CNIC or a Form-B to apply for a loan. 

 Age Limit

The loan will be accepted by people who are in the age group of 18- 45 years old.

Required Documents 

  • Pictures
  • CNIC
  • Latest academic degree
  • Experience certificates (if applicable)
  • License/registration with chamber or trade body/union (if applicable)
  • Recommendation letter from respective chamber/trade body/union (mandatory in case of existing business)

Other Essential Details 

  • National Tax Number (NTN)
  • Consumer ID of electricity bill of current address (if applicable)
  • Registration number of any vehicles registered in the applicant’s name (if applicable)
  • Name, CNICs, and mobile numbers of two references other than blood relatives
  • An estimate of monthly business income, business expenses, household expenses, and other income in case of new business and actual monthly business income, business expenses, household expenses, and other income in case of existing business

How to Apply?

Through the online portal, eligible candidates can apply for the PM Youth Business and Agriculture Loan Scheme. 

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