ISLAMABAD,(Parliament Times): Prime Minister (PM) Imran Khan has accorded approval to launch second phase of “ Kamyab Jawan Program (KJP) ” forthwith. Usman Dar special assistant to PM Imran Khan called on PM Tuesday and gave him detailed briefing on the second phase of KJP. PM commended the efforts by Usman Dar and gave approval to start the second phase of the program immediately. Usman Dar said the youths will be entitled to obtain loan ranging between one lac rupees to Rs 25 million for doing business. This decision has been taken in the wake of challenges facing national economy due to coronavirus epidemic. The youths who are facing financial hardships should capitalize on this opportunity. Youths should only carve out planning for business and government will extend them loan without guarantee. The limit for loan without guarantee has been enhanced from one lac rupees to 5 lac rupees. All the Islamic banks will also be part of this program. The State Bank of Pakistan under the directives of government has issued circular to all banks highlighting the marked reduction in mark up rate of loans. The mark up has been slashed from 6 percent to 3 percent for second phase.
