The Prime Minister on Thursday 17th of October 2019, announced a loan scheme for the youth of Pakistan and allocated Rs100 billion for the scheme. The scheme is aimed at empowering the youth of Pakistan by providing interest-free and low-interest rate loans. Providing details of the program, the PM added that loans of up to Rs100,000 would be given on an interest-free basis, whereas loans of Rs100,000-Rs500,000 would be given on low-interest rates. He further said that, “Of the total amount set aside for this scheme, 25% has been reserved for women only.” This is one of PTI’s flagship program and almost 1 million people would benefit from this scheme. The loans would be distributed on a priority basis to 45 underprivileged districts.
The PM added that the loans would be awarded purely on merit basis. He said that this is the first time the government is bringing the students of madrassas in the mainstream and his government was legislating for them to study religion as well as other skill developing subjects.
There are currently six different programs being offered under the ‘Kamyab Jawan Program’, which are as follows:
- ‘Skill for All Program’, which will be aimed at providing technical and vocational training to 150,000 youth.
- “Startup Pakistan Program’, will train entrepreneurs regarding skills required to set up businesses.
- ‘Green Youth Program’, will provide small loans to youth to develop solutions to tackle climate change.
- ‘Youth Entrepreneurship Scheme’, will provide youth with low-interest rate/zero interest rate loans to set up businesses.
- ‘Internship Program” would be aimed at providing internships in industries to undergraduate/postgraduate students.
- ‘JawaanMarkaz’, would cater to youth-related issues, including counseling of youth, providing sports facilities where required and other such activities.
The PM added that, “I am certain that this program would enable the youth to work to their full potential and PTI has fulfilled it’s promise of uplifting the youth of the country.” He further added that, “The amount for this program is not collected through taxes; rather the UNDP supports such programs.”