PMYA to launch 'SME-lending facility' for young entrepreneurs
Last updated on: 07 April,2019 04:46 pm
PMYA has made a comprehensive strategy for the uplift of youth by initiating several projects
ISLAMABAD (APP) – Prime Minister Youth Affairs (PMYA) Programme has planned to launch “SME-lending facility” to offer subsidized business loans to young entrepreneurs for running their own businesses to become economically strong and self-sufficient.
According to an official, “It has been for the first time in the national history, clean lending facility would be offered to borrowers up to Rs500.000, whereas subsidized loans would be offered to other borrowers from Rs0.5-1million and 1-25 Million.”
He said in the first category, there would be no guarantee required for taking loan as only personal guarantee would be enough.
He said in other two categories, PMYA would provide subsidy to the borrowers by sharing their half of the interest rate.
He said that it would help to attain better livelihood and career opportunities which were inaccessible to them earlier due to lack of empowerment programmes.
He said PMYA has made a comprehensive strategy for the uplift of youth by initiating several projects for them, adding that PTI Government was focusing to bring institutional change to achieve socio-economic empowerment of youth.