Prime Minister's Youth Business and Agriculture Loan Scheme (PMYB&ALS):

The Prime Minister's Youth Business & Agriculture Loan Scheme (PMYB&ALS) is a government-backed program that provides loans to young people in Pakistan who want to start or expand a business or invest in agriculture. The scheme is administered by the State Bank of Pakistan (SBP) and is available through 15 commercial Islamic and SME banks.

To be eligible for the PMYB&ALS, you must be a Pakistani citizen between the ages of 21 and 45 (or 18 years old if you are applying for an IT/e-commerce business). You must also have a valid CNIC and a business plan.

The PMYB&ALS offers loans in three tiers:

Tier 1: Up to 0.5 million PKR with 0% markup

Tier 2: Above 0.5 million PKR up to 1.5 million PKR with a 5% markup

Tier 3: Above 1.5 million PKR up to 7.5 million PKR with a 7% markup

The PMYB&ALS also offers two types of loans:

Long-Term/Development Loans: These loans are for projects that will have a lasting impact on the economy, such as setting up a new factory or investing in agriculture.

Working Capital/Production Loans: These loans are for businesses that need short-term financing to cover their day-to-day expenses, such as buying raw materials or paying salaries.

If you are interested in applying for the PMYB&ALS, you can visit the website of the State Bank of Pakistan or the website of one of the participating banks. You can also call the SBP's helpline at 021-99201000 for more information.

What is the PMYB&ALS?

The Prime Minister's Youth Business and Agriculture Loan Scheme (PMYB&ALS) is a government-backed scheme that provides loans to youth between the ages of 21 and 45 for starting or expanding a business or for agricultural purposes.

The scheme was launched in 2018 to promote entrepreneurship and agriculture among young people in Pakistan.

Who is it for?

The PMYB&ALS is open to all Pakistani citizens between the ages of 21 and 45 who have a valid CNIC and a business plan.

There are no educational or financial requirements for the scheme.

Benefits of the Scheme

Low-interest rates: The interest rates on PMYB&ALS loans are very low, starting at 5% for businesses and 7% for agriculture.

Flexible repayment terms: The repayment terms for PMYB&ALS loans are also flexible, with a maximum repayment period of 10 years.

Wide range of eligibility criteria: The PMYB&ALS has a wide range of eligibility criteria, which makes it accessible to a large number of young people in Pakistan.

Importance of entrepreneurship and agriculture in Pakistan's economy

Entrepreneurship is key to economic growth and job creation in Pakistan.

Agriculture is the backbone of Pakistan's economy, providing employment to over 40% of the population.

The PMYB&ALS can play a vital role in promoting entrepreneurship and agriculture in Pakistan, which will help to boost the economy and create jobs.

How to apply for the PMYB&ALS

Eligibility criteria:

• You must be a Pakistani citizen between the ages of 21 and 45.
• You must have a valid CNIC.
• You must have a business plan.
• Steps involved in applying for a loan:
• Visit the website of the State Bank of Pakistan (SBP) or the website of a participating bank.
• Download the application form and fill it out carefully.
• Submit the application form along with the required documents to the SBP or the participating bank.

Contact information:

• State Bank of Pakistan: 021-99201000
• Habib Bank Limited: 021-111-111-111
• National Bank of Pakistan: 021-99211313

FAQs

What types of businesses are eligible for the PMYB&ALS?

The PMYB&ALS is open to all types of businesses, including manufacturing, trading, and service businesses.

How much money can I borrow under the PMYB&ALS?

The maximum loan amount under the PMYB&ALS is Rs. 20 million for businesses and Rs. 5 million for agriculture.

What are the repayment terms for the PMYB&ALS?

The repayment terms for the PMYB&ALS are flexible, with a maximum repayment period of 10 years.

Conclusion

The PMYB&ALS is a great opportunity for young people in Pakistan to start or expand a business or invest in agriculture.

The scheme offers low-interest rates, flexible repayment terms, and a wide range of eligibility criteria.

If you are a young person in Pakistan who is interested in entrepreneurship or agriculture, I encourage you to apply for the PMYB&ALS.