Islamabad: The government has decided to launch a youth business scheme initiative to provide soft loans to the youth – a news source reported.
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This proposed initiative aims to empower youth so that they can earn their livelihood with respect and dignity. It will be launched under the government’s ‘Kamyab Jawan Programme’ initiative.
The Youth Affairs Ministry has collaborated with the State Bank of Pakistan (SBP) on this project. Aspirants will be provided loans in a categorised manner.
Under the first category, loans of up to PKR 5 million at an interest of six percent will be issued. In the second category, the government will loan an amount of PKR 2.5 million at an interest rate of eight percent. Similarly, loans of upto PKR 25 million will be issued at an interest rate of 10 percent.
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Applications to this effect will be made available at all branches of the National Bank, Bank of Punjab, and Bank of Khyber.