Punjab Prime Minister Youth Loan Program has Started in PU

The Punjab Govt has announced the new Youth Loan Scheme for the students of the Punjab University Lahore. The Prime Minister’s Youth Loan Scheme has been started by the Punjab University PU Lahore. It is a scheme for students that will be able to initiate new businesses or enterprises.

All the students of PU are invited to apply for this scheme. The respective students have to submit a short detail about the proposed business plan or scheme to their department’s heard in the next 24 hours. The respective student must have 10% of basic money besides on requested loan amount.

Punjab Prime Minister Youth Loan Program has Started in PU

All the students of Punjab University are urged to apply loans under Prime Minister’s Youth Loan Scheme. This small business loan Scheme will focus on educated youth looking for establishing new business / enterprise.

The interested students need to submit small description of proposed business plans / projects to their heads of departments in next 24 hours. The applicants must have 10% of seed money with them on requested loan amount.

The Top 50 students selected by the university will be invited in PM House, Islamabad on 25th of November, 2013. Salient Features of the scheme are:

If you are Eligible so you should avail this opportunity because its all about for the Students and After the Punjab University it will be continue further to other Universities.

The university will select top 50 students and  will be invited in PM House, Islamabad on November 25, 2013. Main feature or this scheme is  Loan up to Rs. 2 Million (Rs. 0.5 Million to Rs. 2 Million), only 8% markup, amount will be distributed by NBP(National Bank of Pakistan) & FWB (First Women Bank).

• Loan up to Rs. 2 Million (Rs. 0.5 Million – Rs. 2 Million)
• Only 8% markup
• To be distributed by NBP (National Bank of Pakistan) & FWB (First Women Bank)
• Total loans are 1 lakh
• All Pakistani nationals
• Eligibility – 21 years to 40 years
• Minimum educational qualification is Middle
• Students need to submit feasibility of the proposed project
• One personal guarantee required
• The applicant must have 10% seed money
• 15 days approval time
• The loans will be awarded transparently on pure merit basis
• 50% quota is for women
• The loans are to be paid back in seven years
• Monthly installments
• To mitigate risk, Government will share 50% of the losses subject to the maximum of 10% of the loan amount
• Qarz-e-Hasana
• Qarz-e-Hasana or the micro-finance loan facility is aimed at helping the industry raise current access level of 2.5 million people to 5.0 million in the next 5 years.