Prime Minister’s Interest-Free Loans Scheme is aimed to help the poor to start up a business with a loan provided by the scheme. This scheme also facilitates for investment to those who don’t have cash but want to initiate their own business.
While the very charming and interesting thing of this scheme is, that is focusing on poor but remember those are not allowed who are recipients of loans under BISP. There also a lion share has been allocated for the women which are estimated to be about 50%.
In simple words, it means 50% of loans will go to women borrowers.
A huge budget has been allocated for the scheme according to the media source that estimated budget for the loan is more or less PKR 3.5 billion and also released PKR.3.5 billion.
This loan scheme is totally free from any type of interest from the loan provider and the borrower will be given Rs.25, 000 averages (up to RS 50,000) and the number of loans would be about 250,000.
This loan is available across the country and all provinces but priority will be given the less developed and backwardness areas o the country where the districts with no or low micro finance network facilities. And this loan is district level.
All Detail and information for the loan, registration, and eligibility criteria are available on the official website of Prime Minister Youth Program. Here is the Link