PMYP to launch SME-lending facility for young entrepreneurs
ISLAMABAD: The Prime Minister Youth Affairs Programme has planned to launch ‘SME-lending facility’ under which subsidised business loans will be offered to young entrepreneurs for running their own businesses.
An official of the progamme said the loans will be offered in three categories, Radio Pakistan reported.
In the first category, up to 500,000 rupees lending facility will be offered to the borrowers and no guarantee will be required for this loan as only personal guarantee would be enough.
Under the second and third category, subsidised loans would be offered to borrowers from 0.5 to one million rupees and one million to 25 million rupees respectively.
In the last two categories, the Prime Minister Youth Affairs Programme would provide subsidy to the borrowers by sharing half of their interest rate.
Prime Minister’s Green Youth Movement will be launched soon to engage the youth in ten billion tree Tsunami project.
This initiative was discussed by Special Assistant to PM on Youth Affairs Muhammad Usman Dar during a meeting with Adviser on Climate Change Amin Aslam in Islamabad on Saturday.
Under the Green Youth Movement, a large number of trees under the ten billion tree Tsunami project will be earmarked for plantation by youth across the country.