Islamabad: The Prime Minister’s Youth Affairs Programme (PMYAP) initiative is expected to commence with loan disbursement to successful applicants of the recently launched ‘Kamyab Jawan’ campaign next month (December) – following the completion of all formalities – according to news sources.
As per officials, the financial institutions concerned (including the Bank of Punjab, the National Bank of Pakistan and the Bank of Khyber) will increase their human resource and technology utilisation capacity for effective handling of one million applications registered so far.
Further, the loan disbursement will be conducted on merit and complete transparency will be exercised while processing the applications of the potential entrepreneurs. The officials said that this scheme would not only create opportunities for the youth but also contribute to the c economic growth.
Previously, the PMYAP had announced its receipt of one million applications; which were submitted within the first two weeks of the programme’s launch. Under KJP, the government will offer loans ranging from PKR 50,000 to PKR 5,000,000 on convenient and affordable return policies.