Are you a Pakistani youth with an amazing business idea but no capital to realize it? Or, are you good at academics and want to earn a living doing something else? Have you been limited by financial constraints? The PMYB&ALS (PM Prime Minister’s Youth Business & Agriculture Loan Scheme) is more than a government program– it is simply “a push” to start an army of entrepreneurs: not just small businesses, but agriculture businesses, too. Put simply, you have a unique chance to turn your creative initiative from a hobby to a profit.
How to Apply: Your First Step to Success
Applying for the PMYB&ALS has been made as easy as possible. The entire process is online, meaning you will not have to go to a bank branch just to hand in your application.
- Go to the Official Portal: Go to the official Prime Minister’s Youth Program portal: https://pmyp.gov.pk/. This is the only place you will need to go for anything related to this scheme.
- Complete the Online Application: The portal includes an easy online application form that you can fill out in either English or Urdu. Make sure you fill out all the required fields, and make sure you fill out your details, business details, and details of the loan you want.
- Choose Your Bank: You will be able to choose from a list of banks that are on the financial institution list. You will choose a bank that you want to apply to. These banks are the executing agencies (EA) that will be processing your application for the loan.
- Submit Your Application and Track Your Loan: After you submit your application form, you will be given a tracking number. You can use this number to track the status of your loan application on the portal. You will be able to track your application status from submission to decision to approval.
Prime Minister Youth Loan Eligibility Criteria
The Prime Minister’s Youth Business & Agriculture Loan Scheme is made accessible to everyone, but certain conditions must be met to ensure that loan recipients have the full potential to utilize funds effectively.
- Citizenship: Valid CNIC holders of Pakistan are eligible.
- Age: All applicants must be between 21 and 45 years old, except for IT and E-commerce applicants, who may be as young as 18 years old.
- Entrepreneurial Ability: You must have a viable business idea (for a new project) or you currently have a business that you want to grow.
- Gender inclusion: 25% of funding is reserved for women, fostering female entrepreneurship across the nation.
| Loan Tier | Loan Amount (PKR) | Mark-up Rate (p.a.) | Security Requirements |
| Tier 1 | Up to 0.5 Million | 0% (Interest-Free) | Clean (Personal guarantee only) |
| Tier 2 | 0.5 Million to 1.5 Million | 5% | Clean (Personal guarantee only) |
| Tier 3 | 1.5 Million to 7.5 Million | 7% | As per the bank’s credit policy |
