ISLAMABAD: Special Adviser to Prime Minister on Youth Affairs Usman Dar on Tuesday said that over 259,767 online loan applications were received under the ‘Kamyab Jawan Programme’ so far.
Addressing a press conference, he said that the government had successfully countered Indian cyber-attacks on the programme’s digital portal, which was a testament to the initiative’s success.
He said that the youth appreciated this initiative as over 50,000 applications were being received every day.
He said that loan would be granted only on merit and without any political affiliation and that all Pakistanis including government employees from ages 21 to 45 years are eligible to apply for loan.
The PM’s aide said that 25 percent of total loans would be given to young females for setting up their own businesses and that all applications would be submitted online and SMS would be delivered on given numbers with confirmation details for assigning all selected bank branches, he added.
He said that this unique and ambitious program is aimed at providing soft loans to the youth and creating job opportunities for them.
Dar said that although similar youth support programme had also been launched in the past, they did not bear fruit due to lack of an effective and comprehensive strategy while under this program, a number of schemes were being introduced which would most likely be successful.
He said that an amount of Rs100 billion had been allocated for “Kamyab Jawan Program” to facilities over one million youth across the country.
Online Portal had started a website wherein a person can apply for loan of Rs50,000 up to Rs 50,00,000 on an easy returns policy.
He said that for effective monitoring, online application form was prescribed through Kamyab Jawan Portal. The purpose of the portal is to provide a centralized platform through which applicants are able to apply directly to the relevant banks.
He said that the portal would be hosted and controlled by National Information Technology Board, Ministry of IT and Telecommunication.
Only authorized stakeholders will have access to the portal for specific purposes such as individuals applying for loans, banks for the purpose of receiving applications, SMEDA for providing their hand-holding or guidance support wherever necessary and PM Youth Office for retrieving information for monitoring purpose.
Moreover, external audit of the portal from expert IT auditors will be conducted on an annual basis to ensure that the online portal is used by concerned stakeholders for intended purpose only and unauthorized use of the online portal, if any, is identified and thwarted.
He said that under the new program, subsidized business loans will be provided to potential young entrepreneurs for the promotion of the SME sector in the country.
He said that for the first time in Pakistan, through the platform of the PM’s Kamyab Jawan program, the government has created opportunities for the social and economic uplift of the youth.
He said that ‘Skill for All Program’ would be included under which, technical and vocational training will be imparted.
He said that another initiative under the Kamyab Jawan Program will be ‘Startup Pakistan Program’ and under this program, potential young entrepreneurs will be trained and mentored to conceive, incubate, and mature their business plans through access to digital incubation platform.
Usman Dar assured that the program is completely transparent and merit-based. To ensure transparency, the entire program is made available on a digital platform and a scorecard has been developed on the basis of artificial intelligence.