2nd Balloting Results PM Youth Loan Scheme 2014 , www.mehnat.pk
Islamabad. The Second Balloting of Prime Minister Small Business Loan Scheme was held in Islamabad on 4th June 2014. The Balloting was Presided Over By The Prime Minister of Pakistan, Mian Muhammad Nawaz Sharif along with Prime Minister, Finance Minister Mr. Ishaq Dar, Chairperson of PM Youth Small Business Loan Scheme Ms. Maryam Nawaz, Officials of National Bank of Pakistan (NBP), First Women Bank Ltd. (FWBL) and Small and Medium Enterprises Development Authority (SMEDA) were also present at the occasion.
Prime Minister’s ‘Youth Business Loan’, for young entrepreneurs between the age group of 21 – 45 years, is designed to provide subsidized financing at 8% mark-up per annum for one hundred thousand (100,000) beneficiaries, through designated financial institutions, initially through National Bank of Pakistan (NBP) and First Women Bank Ltd. (FWBL). Small business loan with tenure up to 8 years, with first year grace period, and a debt : equity of 90 : 10 will be disbursed to SME beneficiaries across Pakistan, covering; Punjab, Sindh, Khyber Pakhtunkhwa, Balochistan, Gilgit Baltistan, Azad Jammu & Kashmir and Federally Administered Tribal Areas (FATA).
It has a 50% quota for women and 5% quota for families of Shaheeds, Widows and Disabled persons.
