ISLAMABAD: Prime Minister Imran Khan on Tuesday approved the launch of the second phase of Kamyab Jawan Programme, aiming to provide more opportunities to the youth across the country.
Special Assistant to the Prime Minister on Youth Affairs Usman Dar called on PM Imran to discuss matters related to Kamyab Jawan Programme.
During the meeting, the prime minister directed Dar to immediately launch the second phase of the Kamyab Jawan Programme. The federal government also released Rs25 billion in this regard.
The government also increased the loan amount for phase-II from Rs5 million to Rs20.5 million, and the State Bank of Pakistan (SBP) has issued the relevant circular to all banks.
Moreover, the federal government has reduced the markup for the second phase from 6pc to 3pc.
Following the meeting, Dar said that youths under the programme can now get a loan of Rs25 million for business purposes, adding that the decision was taken keeping in view the economic challenges caused by coronavirus.
“Despite tremendous economic constraints, the government allocated Rs100 billion for the youth of this country,” said Dar. “The government has brought the markup to its lowest value in the country’s history along with allocating Rs30 billion for skilled based education,” he added.
Earlier, Planning Minister Asad Umar said that phase-II of Kamyab Jawan Programme in collaboration with Ministry of Industries will give loans for the establishment of Utility Stores’ franchises.
The Kamyab Jawan Programme was launched by the premier last year in November.