Dec 08

Youth Business Loan Scheme By PM Muhammad Nawaz Sharif

PMs Youth Business LoansSpeaking on the occasion, Nawaz Sharif said that excessive nationalisation by previous governments had devastated industry and economy in Pakistan.

Therefore PM decide to make better economy it launched loan scheme and also he decided to give the subsides financing at 8% mark-up per annum for 100, 000 beneficiaries through the National Bank of Pakistan and First Women Bank.This Loan scheme is the largest part of Prime Minister’s Youth scheme

The Loans

The total mark up rate would be 15% but the government would pay the remaining seven percent on behalf of applicants.

Those falling in the age group of 21 and 45 years are eligible to apply for loans inside the range of Rs0.5 million to Rs2 million.

Small business loans with tenure up to seven years plus one year grace period and a debt-equity ratio of 90:10 will be disbursed across the country including four provinces‚ Gilgit-Baltistan‚ Azad Jammu and Kashmir and Federally Administered Tribal Areas.

Small and Medium Enterprise Development Authority has been tasked with an advisory role in the implementation of Prime Minister’s scheme.