The present government that came into power with the mandate to empower the youth of Pakistan had been rather silent when it came to delivering on what it had promised
In an aim to deliver “a million jobs” for the youth of Pakistan the government recently launched Kamyab Jawan. The initiative taken by the prime minister himself is aimed to achieve economic stability in the country. In order to provide self-employment for the youth, by providing loans and grants of various types
The Prime Minister stated “This is the first time in the history of Pakistan, 100 billion rupees will be allotted for loans to youth, in order to enhance their skills. The loans will only be given on merit base, I will be directly monitoring the program from my office.”
The youth development program targets to create relaxation for youth suffering from unemployment in both urban and ruler areas of Pakistan. The program is aimed to boost innovation in the country by utilizing young minds.
- All citizens of Pakistan holding CNIC, having age between 21-45 are eligible for the loan, For IT or E-commerce related business lower age limit is 18.
- For IT / E-Commerce related businesses, at least matriculation &/or experience of at least six months.
Type & size
There are two types of loans offered to the youth, working capitals and term loans. The loans are further divided into two categories Tier 1 (T1) & Tier 2 (T2). The (T1) loans range from rupees 100,000 to rupees 0.5 million, there is no security for (T1) except your personal guarantee, but for the type (T2) loans which range from rupees above 0.5 to rupees up-to 5 million as per bank policy prescribed by the concerned bank.
In our initial, research it appears that the program is rather easy to go about you obly need to submit an online form at https://www.kamyabjawan.gov.pk/home/index properly and wait for about two weeks to be informed that if you’re eligible for the loan or not.
The loan tenor is up to 8 years, in this time borrowers are required to polish their entrepreneurship skills and set up their business. Youth development program ensures to give the young individuals of Pakistan the opportunity to use their skills to financially stabilize themselves and put an end to the high unemployment rate.
25% of the loans are allocated for women of Pakistan to step up and take the initiative in their hands and run businesses. Women of Pakistan from every province is to be given loans on merit and their entrepreneurial potential.
Furthermore, five more schemes are to be announced soon. Which include “Hunarmand no Jawan” this will be responsible for skill development for all the youth from different provinces mostly from the least developed provinces like Balochistan, GB and AJK. “Green youth movement” is aimed to be working on the climate change and environmental conditions of Pakistan, where small grants will be given to bring eco-innovative solutions keeping in mind the devastating environmental conditions of Pakistan.
“Startup Pakistan scheme”, in this scheme 10,000 startups will be launched and 1 million students will be trained from different universities and colleges. Further “National internship program” is on its way which is a joint initiative of universities, government and industries. The internship program will give fresh graduates exposure to practical work for six months. The last program included under Kamyab Jawan is “Jawan Markaz initiative” which will be an interactive platform for engaging, counselling and mentoring youth through physical and digital means.
All in all the Kamyab Jawan has high ambitions.…….