Islamabad: Advisor to the Prime Minister (PM) on Finance and Revenue Dr Abdul Hafeez Shaikh on Wednesday announced a five-fold expansion of the government’s Kamyab Jawan Programme, according to news sources. To this effect, the financing limit of the programme has been increased from its existing PKR 5 million ceiling to PKR 25 million; while the mark-up rate has also been reduced from 6% and 8% to 3% and 4%, respectively.
Dr Shaikh further revealed that this lowered mark-up rate would applicable to those who had acquired loans under previous schemes; adding that the country’s economic indicators had been showing signs of improvement and that 6% increase in exports was registered in July. He said that revenue collection in the first month of the current fiscal year was recorded at PKR 300 billion – which was 23% more than last year’s figures for the corresponding period.
Meanwhile, Special Assistant to the PM on Youth Affairs Usman Dar said that the government – under the second phase of Youth Entrepreneurship Scheme – would commence with the registration process from today (Thursday) onwards. He said that youth of Pakistan could visit ‘kamyabJawan.gov.pk website from Thursday and apply for the concessionary loans’. He said that candidates who failed to get the loan in the first phase might also apply for this loan.