Prime Minister Imran Khan, on Thursday, launched one of the current government’s flagship projects, the “Kamyab Jawan Program.”
The initiative aims to aim to economically empower the youth of the country and create maximum employment opportunities for them.
While addressing the inaugural ceremony, PM Khan said that merit is the hallmark of this project, which will treat all citizens equally.
PM Khan said that merit is critical for progress and success for a nation, but lamented that the previous governments failed to implement the meritocracy in government institutions. He, however, reiterated the resolve to promote the culture of merit and honesty in the country.
He also congratulated his adviser on Youth Affairs, Usman Dar, for his untiring efforts in successfully launching of this youth welfare project.
Rs. 100 Billion for Startup-oriented Loans
“Under this program,” the premier said, “We have allocated Rs. 100 billion to provide business-oriented loans to the youth of the country,” adding that a total of Rs. 25 billion have been set aside for women.
“The program will allow youth to take startup-driven loans of Rs. 100,000 to Rs. 5 million,” Khan maintained, adding that interest-free loans up to Rs. 100,000 will be provided on merit.
He mentioned that the government has introduced two tiers for loan acquirement. Under the first category, people will be able to borrow upto Rs. 500,000 at six percent mark-up with lending equity of 10 percent, while in the second category, a loan of Rs. 5 million will be provided at a mark-up rate of eight percent and an equity ratio of 20 percent.
Rs. 10 Billion to Professional Training
Prime Minister also noted that the project will also provide professional training to as many as one million youths with a separate budget of Rs. 10 billion.
Khan also said that the madrassa students are of equal importance to the PTI government.
Technical Labs in Madrassahs
To bring them to the national stream, we are going to establish 100 smart technical laboratories in madrassahs.
Earlier Usman Dar, while briefing media on Kamyab Jawan Program, said that the project was entirely focused on ensuring employment opportunities to the youth, empowering them with market-oriented skills, and providing them proper platforms to excel.
He said that not a single penny of taxpayers was utilized on the program as the UN Development Programme funds it.