Prime Minister Youth Loan Scheme 2023

Prime Minister Youth Loan Scheme 2023 – Prime Minister Youth

Program Loan Scheme Prime Minister Youth Business and Agriculture Loan Scheme (PMYB&ALS)

1. Please refer to IH&SMEFD Circular No. 08 of 2019 dated 11th July 2019 and subsequent instructions issued from time to time regarding Prime Minister’s Successful Young Youth Entrepreneur Scheme (PMKJ-YES). 2. Government of Pakistan has approved the modification of key features of PMKJ-YES to make it more targeted and beneficial for small businesses and agriculture. New components of interest-free micro-loans and agricultural loans have been added to the scheme.

Prime Minister Youth Loan Scheme 2023 - Prime Minister Youth — **Prime Minister Youth Loan Scheme 2023 – Prime Minister Youth**

Further, the scheme has been renamed as Prime Minister Youth Business and Agriculture Loan Scheme (PMYB&ALS). Salient features of PMYB&ALS approved by the Government of Pakistan are reproduced below:

Instructions

Dear Applicant

The following documents should be ready with clear viewable images or scanned copies before you begin your application:

1. Passport-size photograph

2. CNIC – Front side

3. CNIC – Backwards

4. Latest Educational Degree/Certificate, if and as applicable: Matriculation, Intermediate, Bachelors, Masters, PhD etc.

5. Experience Certificate, if applicable.

6. License/Registration with Chamber or Trade Body if applicable

7. Letter of recommendation from concerned Chamber/Trade Body or Union, in case of existing business this is mandatory.

Before starting your application you must have the following information:

8. National Tax Number, if you don’t have it please register at https://fbr.gov.pk/categ/register-income-tax/51147/30846/71148

9. User ID of the electricity bill of your current address. (NITB to link the photo of the electricity bill with the customer’s name inscribed on it)

10. Electricity Bill User ID of your current office address if applicable.

11. Full registration number of any vehicle registered in your name, if applicable.

12. Name, CNIC, and mobile number of two references other than blood relatives.

13. In case of a new business you should have estimated monthly business income, business expenses, household expenses and other income while in case of existing business please provide actual monthly company earnings, business costs, living expenses, and other earnings. , if any details

Please note:

a Please sign up to submit an application.

B To start this application you must have a mobile number registered in your name on which the bank will contact you.

c This application will take at least 15 minutes to complete subject to the availability of the information listed above.

D You can complete the form at once or save the draft for later submission.

e Please upload as much information as you have. Financial reports, business opportunities, bank statements over the previous six months, etc. This will make it easier to evaluate your application.

f Once the form is submitted, your application registration number will be displayed on the screen and you will also receive an SMS, please keep it safe.

Yes, you will receive an SMS once your application has moved to the next stage of processing, however you can also check the status of your submitted application on this website.

Shahbaz Sharif

(Prime Minister of Pakistan)

Dear young people! Always remember that you are Pakistan’s greatest asset. Allah Ta’ala has blessed you with great abilities and numerous virtues.

Use your strengths positively and contribute to making Pakistan a developed country. You are the torchbearer of tomorrow. To empower our youth population, we have launched several initiatives under the Prime Minister’s Youth Programme.

Be a part of these initiatives, discover your hidden potential, and a bright future awaits you.

Shaza Fatima Khawaja

(SAPM on Youth Programme)

It is a great privilege to lead the Office of Youth Affairs. As it enables me to work for the betterment of more than 68 percent of the population.

Our primary objective is to facilitate youth in every field. PM Laptop Scheme, Loan Scheme, Youth Development Centre, and National Youth Commission are the initiatives through which we are trying to change your bright future.

Join our initiatives and play your part in making a prosperous Pakistan.

Prime Minister’s Youth Business Loan

By offering business loans with simple terms and minimal markup through 21 commercial, Islamic, and SME banks, PMYBL encourages young people to start their own businesses.

All Pakistani residents with business potential between the ages of 21 and 45 are eligible to apply for the loan. The minimum age requirement for firms involved in IT and e-commerce is 18. Only online submissions through our website are accepted for applications.

Loans provided under PMYBL are divided into 3 tiers.

Tier 1

The range is from 100,000 to 1 million PKR with 3% markup. No security is required for this level of loan.

Tier 2

The range is above 1 million to 10 million PKR with 4% markup.

Tier 3

The range is above 10 million to 25 million PKR with 5% markup.