Prime Minister’s Kamyab Jawan Youth Entrepreneur Scheme
In order to provide self-employment opportunities to unemployed youth, Government of Pakistan had launched ‘Prime Minister’s Kamyab Jawan SME Financing Programme’ across the country in Jul-2019, which was later renamed as Prime Minister’s Kamyab Jawan Youth Entrepreneurship Scheme (PMKJ-YES) in Jul-2020. Bank Alfalah has been nominated as Participating Bank in Phase-2 launched on 12-Aug-2020.
Eligibility
- All men/women/transgender holding CNIC, aged between 21 and 45 years for individual/sole proprietor or any one of the stakeholders (however IB for IT professionals/E-Commerce) with entrepreneurial potential.
- Small and medium enterprises (startups and existing businesses) as per definition of SP and owned by youth as per above–mentioned age brackets are also eligible.
- For IT/F-Commerce related businesses, at least matriculation or equivalent education will be required.
Financing Structure
– Working Capital financing Including Musawamah, Istisna and long term financing including Diminishing Musharakah (DM) (for machinery/equipment and locally manufactured vehicles (one vehicle per customer)
| Tier | Limit Caps (PKR) | Pricing | Financing/Equity Participation |
|---|---|---|---|
| Tier 1 (T1) | From 0.100M to 1.000M | 3.00% p.a | New Businesses: 90:10
Existing Businesses: Nil |
| Tier 2 (T2) | From 1.001M to 10.000M | 4.00% p.a | New Businesses: 80:20
Existing Businesses: Nil |
| Tier 3 (T3) | From 10.001M to 25.000M | 5.00% p.a |
Financing tenor
- Up to 8 years with maximum grace period of up to 1 year.
Security Requirements
Security arrangements will be as under:
- T1 financing; Clean; however only personal guarantee of the customer.
- T2 and T3 Financing: As per Bank’s own credit policy.
- Vehicle financed under TI, T2 and T3 to serve as collateral.
Gender Equality
- 25% of the financings will go to women customer.
Target Market (Geography/Sectors)
- All business segments/sectors spread across Pakistan, including Agriculture.
Application Process
Apply through PMKJ-YE5 Online Portal (www.kamyabjawan.gov.pk) with an application processing TAT of 30 days.
