259,767 online loan applications received so far: Usman Dar

ISLAMABAD, Oct 22 (APP):Special Adviser to the Prime Minister on Youth Affairs Usman Dar Tuesday said that as many as 259,767 online loan applications had been received under the ‘Kamyab Jawan Programme’ so far.

Addressing a press conference, he said that the government had successfully managed the cyber-attack of Indians on “Kamyab Jawan Programme” digital portal, which showed the success of the initiative.

He said that a large number of youth had appreciated this step of the government as daily over 50,000 applications were being received. He said that loan would be given to the youth only on merit without any political affiliation.

He said that all Pakistanis including government employees of age from 21 years to 45 years could apply for loan.

He said that 25 percent of total loans would be given to the young females for establishing their own small businesses.

He said 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 aimed at providing soft loans to the youth of the country and creating job opportunities for them with having follow up strategy.

He said that although similar youth support program had also been launched in the past, but they could not bear fruit due to lack of an effective and comprehensive strategy while under this program, a number of schemes would be introduced for success of the program.

He said that an amount of Rs 100 billion had been allocated for “Kamyab Jawan Program” to facilities one million of youth across the country. Online Portal had started on website in which a person can apply for loan of Rs 50,000 up to Rs 50,00,000 on easy returned back 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 would be 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 for specific purposes will have an access to the portal like individuals for the purpose of 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 annual basis to ensure that online portal is used by the concerned stakeholders for intended purpose only and unauthorized use of the online portal, if any, is identified in a timely manner.

He said that under this new program, subsidized business loans will be provided to the potential young entrepreneurs for the promotion of SME sector in the country.

He said that for the very first time in Pakistan, through the platform of PM Kamyab Jawan program, the government has created opportunities to open the doors of socio-economic empowerment of youth.

He said that under the program ‘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 to run the program.

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