Kamyab Jawan Program
Kamyab Jawan is a scheme that was initiated by Prime Minster Imran Khan in order to support the Pakistani Youth and also to increase the number of entrepreneurs in the country. The main mission of this program is to provide loans to youth, which means that people who age from 21-45 can apply for such loans in order start business of their own. The government claims that this particular scheme will provide assistance in the growth of the country’s economy. This project also aims to create job opportunities with the collaboration of Small and Medium Enterprises Development Authority. In order to uplift the youth of the country by offering opportunities to utilize their entrepreneurial potential to the fullest, Government of Pakistan has re-opened the applications under Kamyab Jawan – Youth Entrepreneurship Scheme for provision of subsidized business loans.
All eligible persons can apply for the loan by visiting Kamyab Jawan Portal. No other mode of application submission other than through designated online portal is acceptable.
| Salient Features of Youth Entrepreneurship Scheme | ||
| Age | Age between 21 to 45 Years as per CNIC at the time of application submission. For IT/E-Commerce related businesses, the lower age limit is 18 years, holding at least minimum Matric or equivalent education. | |
| Gender | Men/Women/Transgender | |
| Type of Businesses | Small and medium Enterprises (startups and existing businesses) as per definition of SBP and owned by youth as per above mentioned age brackets. | |
| Loan Size, Pricing & Security | Tier Loan Amount Pricing Security T-I Rs. 0.1 M to Rs. 1 M 3% per annum Clean loan T-II Above Rs. 1 M up to Rs 10 M 4% per annum Secured loan T-III Above Rs. 10 M up to Rs 25 M 5% per annum Secured loan | |
| Purpose of Loan | Setting up of New Business Expansion of Existing Business | |
| Equity | For New Business: T-I: 10% T-II & T-III: 20% For Existing Businesses: NIL | |
| Sectors | All sectors including agriculture | |
| Loan Type | Long Term Loan Working Capital Loan Leasing/financing of locally manufactured vehicles. Only one vehicle per borrower is allowed. | |
| Loan Tenor | Up to 8 Years with Maximum Grace Period of up to 1 Year | |
| Loan Repayment | Based on Equal Monthly Installment (EMI) payable on the 1st of every month | |
| Fees & Charges | Processing Fee: Rs. 100 Other Charges: At Actuals |
Documentation Requirement
The applicant must have pictures / scanned copies of the following documents, whichever relevant, before starting their application:
1. Clear Visible Picture
2. CNIC – Front and Back separately
3. Educational Degree, upload highest degree
4. Technical Degree, upload relevant to the business applied for
5. Proof of Artisanship / Skilled Labor, if available
6. Experience Certificates, preferably all
7. License, if applicable e.g., for commercial vehicle, medical store etc. In case you have applied for the license upload the receipt exhibiting the same.
8. NTN and Latest Tax return, we recommend to get NTN issued before filing application
9. Reference / Consumer Number of Electricity connection Installed at Residential address
10. Business Feasibility / Estimates of actual/expected business revenues and expenses
11. A brief business write-up
12. Any other source of income e.g., foreign remittance, salary income, agriculture income etc.
13. Registration number of any vehicle registered in your name or in parents name in case of females.
14. Two References CNICs
15. Entity Existence documents in case of Partnership / limited company and relevant approvals.
Additional Documents for Existing Business:
1. Latest Financials – Signed
2. Recommendation Letter from Chamber / Trade Body / Union / Association
3. Reference / Consumer Number of Electricity connection Installed at business address
4. Bank Account Statement or Bank Maintenance Certificate
Conclusion
The project Kamyab Jawan is indeed a great step taken by the government but I am fear that this project might end up like almost every great project that started by the previous governments and were infiltrated by poisons such as corruption. This project is also affiliated with all of the banks from Pakistan. It is true that this project shows promise but at the end of the day the question remains the same will it’ll be able to fulfil the promise it shows or it will fall like almost every other project as the new government come to reign.
