Govt allocates Rs100bn for Kamyab Jawan Programme

The government has allocated Rs100 billion in the first phase of the Kamyab Youth Programme.

This was revealed by Special Assistant to Prime Minister on Youth Affairs and PM Youth Programme Chairman Usman Dar while speaking at a cheque distribution ceremony under the programme at the Faisalabad Chamber of Commerce and Industry (FCCI) on Monday.

“The government is fully committed to providing easy access to capital for citizens aged 21 to 45 years so that they can exploit their entrepreneurial skills and strengthen the national economy,” Dar said, adding that the programme would also generate one million jobs for the youth.

He regretted that micro, cottage and small and medium enterprises (SMEs) faced a continued crisis due to lack of focus on these segments in the past, adding that Prime Minister (PM) Imran Khan was contemplating over setting up a full-fledged textile ministry to focus on the SME sector.

About the popularity of youth programme in the Faisalabad Division, he said that 21,000 youth have placed a demand for Rs27 billion.

“Scrutiny of these applications will start very soon as all 21 banks are involved in the process,” he said.

He said that loans worth Rs1.3 billion had already been released to 300 SMEs under the programme while loans of Rs5 billion had also been sanctioned for 6,000-7,000 small units.

“These units will get loans within a couple of months,” he said, adding that under the programme, 100,000 to 150,000 youth would also get jobs within 1-1.5 years. He claimed that all these loans would be disbursed purely on merit without any political consideration.