Govt sets target to disburse loans of Rs50b under Kamyab Jawan Programme

ISLAMABAD: The government is aiming to disburse loans of Rs50 billion this year through the Kamyab Jawan Programme to encourage youth entrepreneurship and create jobs in the country.

Minister of State for Information and Broadcasting Farrukh Habib and Special Assistant on Youth Affairs Usman Dar announced this at a news conference in Islamabad on Saturday.

Farrukh Habib informed that the under Kamyab Jawan Programme the incumbent government has disbursed Rs30 billion in loans over the last two years, resulting in the establishment of twenty-two thousand new firms.

He claimed that this resulted in the provision of 50,000 direct employment for youth and tens of thousands of indirect jobs.

According to the Minister of State for Information and Broadcasting, the Kamyab Jawan Programme promotes entrepreneurs in particular.

Read more: Over Rs22 billion soft loans disbursed under Kamyab Jawan Programme: official

He stated that a proposal will be presented to the cabinet for approval, in which no guarantee will be required from those seeking loans of up to two million rupees.

Farrukh Habib further said that the youth are receiving hi-tech certification in fields such as artificial intelligence, cloud computing, graphic design, and so on, as part of a Rs10 billion Skill for All Program.

He added that one hundred thousand youth had received scholarships through this scheme, with another sixty-one thousand sets to be distributed on the 31st of this month.

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The minister went on to say that the government’s goal for this fiscal year is to increase IT exports to three billion dollars and that this talent development initiative will contribute to that goal.

On the other hand, Usman Dar while addressing the presser said that 2022 has been designated as the Year of Youth and that various activities will be held throughout the year to promote Pakistan’s soft image. He also stated that the federal is considering launching a young sports scholarship programme.

Loans under the Kamyab Jawan Program are offered in the most transparent manner possible, said the minister.