PM Youth Loan Scheme 01st Draw List Successful Candidates
28th February 2014, Islamabad The First Balloting of Prime Minister Small Business Loan Scheme Held In Islamabad Today. The Balloting was Presided Over By The Prime Minister of Pakistan, Mian Muhammad Nawaz Sharif along with Prime Minister, Finance Minister Mr. Ishaq Dar, Chairperson of PM Youth Small Business Loan Scheme Ms. Maryam Nawaz, Officials of National Bank of Pakistan (NBP), First Women Bank Ltd. (FWBL) and Small and Medium Enterprises Development Authority (SMEDA) were also present at the occasion.
Prime Minister’s ‘Youth Business Loan’, for young entrepreneurs between the age group of 21 - 45 years, is designed to provide subsidised financing at 8.0% mark-up per annum for one hundred thousand (100,000) beneficiaries, through designated financial institutions, initially through 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 Pakhtunkhwa, 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.
Speaking at the occasion, Prime Minister of Pakistan Mian Nawaz Sharif announced that He said around 38,000 applications including 28,000 from Punjab, 600 from Islamabad Capital Territory, 3,500 from KPK, 100 from Gilgit Baltistan, 1,000 from Balochistan, 500 from AJK and 3,000 from Sindh, were received. He said out of these applications 6,127 were approved for balloting, of which 5,399 would be given loans. PM said the applicants were selected according to the provincial quota and said that 100,000 loans would be awarded in one year. He further said that Prime Minister said that the successful candidates would be informed through SMS by designated banks.
PM Youth Loan Scheme 01st Draw List Successful Candidates
