Prime Minister Muhammad Nawaz Sharif will distribute youth Loan Scheme cheques among the successful applicants in Islamabad on Wednesday 4th June 2014.
Chairperson PM Youth Schemes Maryam Nawaz will be present at this ceremony. PM Youth Loan cheques will be awarded to more than 5 thousand successful applicants.PM Youth Loan cheques will be given today.
Prime Minister’s ‘Youth Business Loan’, for young entrepreneurs between the age group of 21 – 45 years, is designed to provide subsidized financing at 8.0% service charges per annum for nearly one hundred thousand (100,000) beneficiaries, through designated financial institutions namely National Bank of Pakistan (NBP) and First Women Bank Ltd. (FWBL).
Small business loan with tenure up to 8 years, with first year grace period, and a debt : equity of 90 : 10 will be disbursed to SME beneficiaries across Pakistan, covering; Punjab, Sindh, Khyber Pakhtunkhwah, Balochistan, Gilgit Baltistan, Azad Jammu & Kashmir and Federally Administered Tribal Areas (FATA). It has a 50% quota for women and 5% quota for families of Shaheeds, Widows and Disabled persons.