Federal Cabinet of the federal government of Pakistan has accorded the approval of the new program of the Prime Minister of Pakistan, ‘Kamyab Jawan Program’. The main purpose of the launching of this program is to economically empower the youth of the country. This decision was taken on the cabinet meeting with PM Imran Khan in the chair on Tuesday. Kamyab Jawan Program Approval by Cabinet.
This program will allow the youth of Pakistan to take the start up by drawing loans of Rs.100,000 to Rs. 5 million and under this scheme, there are 25% of loan will be granted to women.
The advisor of information to PM, Dr Firdous Ashiq Awan briefed the meeting and sais that the loans of Rs.100,000 to Rs.5 million can be obtained in two categories. In the first category, the bank will provide the loan of Rs.500,000 at the markup of 6% with lending equity of 10 percent. In the second category, the loan of Rs. 5 million will be provided at the mark up rate of 8% and the equity ratio of 20%.
She said that the program will help the youth to start their own business and it has reduced the inflation and unemployment in the country. The PM has approved the grant of Rs.100 billion for ‘Kamyab Jawan Program’ last week. The cabinet has discussed the issue of rupee devaluation and its impact on the inflation and economy. She further said that the advisor to PM on Finance Dr Abdul Hafeez Sheikh expected to roll out long term economic plan on Saturday. She said that the cabinet has approved the decisions of last meeting of Economic Coordination Committee (ECC).