Loan Scheme In Pakistan 2022 Prime Minister Imran Khan has announced that the government will offer interest-free loans to low-income groups.
The loan program is called Kamyab Pakistan and is worth 407 billion rupees. It aims to help 4.5 million families and reduce poverty in the country.
At a ceremony in Islamabad on Wednesday, Prime Minister Imran Khan announced a new program called Kamyab Pakistan Program 2022.
Part of which will offer interest-free loans to low-income groups who want to start small businesses or invest in agriculture.
Kamyab Jawan Program
The Kamyab Pakistan Program 2022 will provide interest-free loans to youth, women, and farmers for housing, business start-up, and farming costs to aid poverty reduction in the country.
The interest-free loan program will help 4.5 million families build small businesses, construct houses, invest in farming or acquire technical education and learn job skills.
Under the Kamyab Pakistan Program 2022, the government will provide each member of an urban family with a loan of Rs. 0.5 million to start a business, and will give families in rural areas loans worth Rs. 0.5 million to spend on farming equipment or livestock.
Furthermore, the loans will be interest-free and will cover the cost of building houses as well.
To apply for a business loan, an applicant must be age 21 to 45 and submit their application. In the event that the applicant wants to invest in IT or e-commerce-related businesses, the applicant will receive age-based benefits.
Only those applicants whose poverty score is between 18.5 and 40 can apply for the interest-free loan scheme. BISP recipients are also eligible to apply for this loan, but the loans may be given only in their own or adjacent districts.
Applications from areas or districts where microfinance beneficiaries are as low as 12% will be given priority.
The disparity between male and female applicants has been reduced with 50% of the borrowers expected to be women. The government has set a zero percent mark up rate on these loans, which have a three-year time limit to be paid back.
Aspiring citizens can download the PM interest-free loan scheme registration form online to apply for the scheme. The forms will be available at district union council offices as well.
The maximum loan amount a citizen can avail under this scheme is Rs50,000. This initiative is being run by the Pakistan Poverty Alleviation Fund (PPAF) with support from the PM Youth Program.
The last date to apply for this scheme is not yet announced. So you can simply apply for kamyab Jawan Program in 2022 from smartphone.