Prime Minister Imran Khan announced the Kamyab Jawan Program as an alternative to unemployment. This program provides financial and technical help to those who want to start a business for an innovative product they have been working on.
In 2019, he started the Kamyab Jawan Program, which aims to unlock the potential of young Pakistanis by offering technical and financial resources to aspiring youngsters. It was one of the best initiatives to promote startups and entrepreneurship in Pakistan.
The Kamyab Jawan Program was well-received by youngsters, with ten thousand loans of around Rs8 billion disbursed to them thus far.
Applications are Reopened
The government of Pakistan has reopened applications for subsidized business loans under the Kamyab Jawan – Youth Entrepreneurship Scheme to improve the country’s youth by providing possibilities for them to enhance their entrepreneurial potential significantly.
All qualified individuals can apply for the loan at https://www.kamyabjawan.gov.pk/BankForm/ new applicant form on the Kamyab Jawan Portal. Other than through the specified web portal, no other method of application submission is permitted.
Tiers of Loan under Kamyab Program
The loans would be distributed to SME recipients throughout Pakistan, including Punjab, Sindh, KPK, Balochistan, Gilgit-Baltistan, and Azad Jammu & Kashmir. Women entrepreneurs are expected to get 25% of the loans under the program.
The Kamyab Jawan Program offers three levels of loans:
- Tier 1 (T1) loans range from Rs 100,000 to Rs 1 million
- Tier 2 (T2) loans range from Rs 1 million to Rs 10 million,
- Tier 3 (T3) loans range from Rs 10 million to Rs 25 million.
The loans are available for up to 8 years with a one-year grace period.
The Kamyab Jawan Program received over 200,000 applications from all around Pakistan in the three days leading up to the program’s start. Because most individuals are still having difficulties with the application procedure, this article serves as guidance for filling out the application form.
Here’s a step-by-step guide for the How to Apply for Kamyab Jawan program online. Read on!
Steps to apply for Kamyab Jawan Program
Here’s how you need to apply:
- Visit the Kamyab Jawan Program Portal’s main website. When you arrive, fill out an application for a loan.
- You’ll find a ‘Read More’ option underneath the Youth Entrepreneurship Scheme (YES) if you scroll down the page a little. This selection will take you towards the next page:
- Click/Press on Apply Online For Loan:
- A form will display in the next window. To continue, click on the OK button. A Disclaimer statement will be engraved across it; read it carefully.
Keep the following things in mind as you fill out this form:
- Fill in your original CNIC number and the correct Issuance Date on the form. If you enter the wrong data, your application will be rejected due to false verification.
- Fill out all needed areas; as the form indicates, all fields are needed.
- Proceed to Step 2 after the form has been appropriately filled out. You’ll be sent to an affidavit; carefully read it:
- Finally, complete the form, submit it as directed, and wait for your turn. Within 25-30 working days, all completed and submitted applications will be processed.
This was everything about the Kamyab Jawan Program and how to apply for it online. Please leave a remark if you have any queries. Share with your friends.
Documentation Requirement to Apply for Kamyab Jawan Program
The first step is to fill out the form to apply for the loan, and then you will need to submit some personal, educational, and financial documents. Here’s the list of the documents.
- 3 to 5 Passport Size Pictures
- CNIC Copies (Front and Back both)
- Educational Degrees
- Technical Degrees [Proof of your expertise and business exposure]
- Proof of Skilled Labor (If available)
- Experience Certificates (If available)
- License (if you want to apply for commercial vehicle, driving, or medical store business. If you don’t have a license but applied for it, in that case, upload the receipt.
- NTN Number and Latest Tax return documents.
- Utility Bills (Electricity, Gas, Water, Sewerage)
- Business Feasibility Plan with estimates of expected business revenues and expenses.
- A Description of your Business
- Proof of other sources of income (if Available)
- Registration number of any vehicle registered in your name or parents’ name in the case of females.
- Two References CNICs
- Entity Existence documents in case of Partnership / limited company and relevant approvals.
Additional Documents to Apply for Investing in Existing Business:
If you are already running a small business in Pakistan and want to extend it but need money, you can also apply for a loan under the Kamyab Jawan Program. Here’re the additional documents that you will need to submit.
- Latest Financials – Signed
- Recommendation Letter from Chamber / Trade Body / Union / Association
- Reference / Consumer Number of Electricity connection Installed at the business address
- Bank Account Statement or Bank Maintenance Certificate
I hope this article will help you apply for the Kamyab Jawan Program, and you will get the loan to move a step ahead towards your dream.