Loan disbursement to young entrepreneurs to start from next month

ISLAMABAD: The disbursement of loans to young entrepreneurs will start from next month after completing all the formalities, it was agreed at a meeting on Thursday to review Youth Entrepreneurship Scheme of Kamyab Jawam Programm.

The meeting agreed that the disbursement of loans to the successful applicants under the scheme would start in December 2019 after completing all the required formalities.

Muhammad Usman Dar, Special Assistant to the Prime Minister on Youth Affairs; along with Asad Umer, Chairman National Assembly Standing Committee on Finance, chaired a high-level meeting with the representatives from State Bank of Pakistan, Presidents and senior officials of National Bank of Pakistan, Bank of Punjab, and Bank of Khyber to review the processing of loan applications received under Youth Entrepreneurship Scheme (YES) of Kamyab jawan Programme.

All the three executing banks of the scheme: National Bank of Pakistan, Bank of Punjab, and Bank of Khyber would strengthen their infrastructure both in terms of human resource and technology to cope with the huge challenge of processing one million applications received so far under the scheme.

Speaking on the occasion, Muhammad Usman Dar reiterated his resolve to strictly follow merit and transparency in the processing and disbursement of loans to the potential entrepreneurs.

This would not only create number of employment opportunities for youth but would also contribute remarkably to the national economic growth.

Muhammad Usman Dar appreciated the commitment and efforts of State Bank of Pakistan and the three executing banks: National Bank of Pakistan, Bank of Punjab, and Bank of Khyber, in making this scheme a real game changer for the creation of jobs through the promotion of SME sector in the country.

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