ISLAMABAD: Special Assistant to the Prime Minister on Youth Affairs Usman Dar on Tuesday said the disbursement of loans under Kamyab Jawan Program will be started from December this year.
Addressing a news conference in Islamabad, he said the youth have shown immense interest in the program and about 200,000 applications have so far been received.
He expressed confidence that the program will prove to be a game changer for the development of the country’s economy. He said every possible measure has been taken to make the program transparent and free from political interference.
Usman Dar said they government will try to fix the quota for disabled and minorities on the pattern of female share in the program in the next phase of the program. He said the main purpose of the program is to empower the youth and help them stand on their own feet.
He said there will be no mark up for those acquiring loans up to Rs. 100,000. He said there will be six percent interest rate for ones acquiring loan from Rs100,000 to Rs. 500,000, while eight percent interest rate will be charged from those getting over Rs. 500,000 to five million rupees.
He said that the government is committed to support the youth in every possible manner. He said only one individual of a household will be eligible to avail the loan.