Prime Minister Nawaz Sharif participate in Small Business Loans Youth Scheme inauguration Ceremony in Islamabad. Small Business Loans are one of the Welfare Scheme of Prime Minister Six Welfare Schemes for Pakistan Youth which were announced by Nawaz Sharif on September 21, 2013.
Prime Minister Small Business Loans Scheme for Youth is a project of over Rs. 100 Billion in which more than 100,000 unemployed youth can get the Loan. Prime Minister said in his speech on Opening ceremony of Small Business Loans Scheme for Youth that “Had there been no nationalization policy, Pakistan would have prospered,”
Program Chairperson and Prime Minister Nawaz Sharif’s daughter Mariam Nawaz said that Small Business Loan program will allow young people forge their future and they will be able to stand on their own feet. She said that Nawaz Sharif start implementing on his campaign and Small Business Loan program is a step towards a prosperous Pakistan. Mariam Nawaz said the program for the next 7 months were recruited and allocated Rs 100 billion and Government also have plans to give laptops across the country soon.
Maryam Nawaz said that the Business Loans Program terms are very simple, first you are Pakistani, Second you have the right ID card and third you granter can give your guarantee. Application Form for the Program will be available from National Bank, First Women Bank and SMEDA’s 1400 branches across the country from on December 9, 2013. Forms will also be available for free download from the website of SMEDA, National Bank and First Women Bank.
In addition, candidates have to submitting a business ‘Business Plan’ with application to be presented on the basis of which Loans will be issued to you. Prime Minister Nawaz Sharif has provided 55 Business plan on the website of SMEDA (Website Link Provided at end) from which you can pick a business plan and attach it with application.
Youth Program Chairperson said that applicant can also provide their own business plan. She said after submitting the application form Government will review the application in various stages of testing and within 15 days of its acceptance or rejection will be communicated to the applicant. She also added that after loan approval, first year will be a Grace Period in which candidate will not pay any installment but after first year candidate will pay installment monthly with 8.0 % markup on it for next 7 years.
Youth Program Chairperson said that monitoring process of checking installment and candidate business will be very strong and the government with banks have been assigned to teams. Small Business Loans Program is also lunch in FATA, Gilgit-Baltistan and Azad Kashmir.
Links For Prime Minister’s Youth Business Loans
Guidelines for Prime Minister’s Youth Business Loan (Click Here)
Download Application Forms (Click Here)
Download Application from National Bank Pakistan (Click Here)
Download Application from First Women Bank Pakistan (Click Here)
For SMEDA Website (Click Here)