The State Bank in Pakistan (SBP) revealed that Prime Minister Shehbaz Sharif has expanded the scope of the youth industry and the agricultural loan scheme.
This includes loans for purchasing laptops and for individuals seeking employment abroad.
According to SBP’s statement, a four-year loan will be available for laptops for Kibor Plus 3% rate, with eligible students aged 18 to 30 years from HEC-approved institutions.
Loans vary from PKR 150,000 to PKR 450,000, and repayments will be in line with university fees.
In addition, loans of up to PKR 1 million will be delivered to individuals traveling abroad to work, cover training, visa and travel costs.
These loans will have a five -year period with a kibor plus 3% bank price available to individuals between 21 and 45 years.
According to the newly introduced “Tier 4” of the Prime Minister’s youth loan scheme, soft loans will be made available to purchase laptops.
This initiative targets students from the Higher Education Commission (HEC) recognized institutions as well as freelancers and young entrepreneurs.
Qualified applicants must be Pakistani citizens between the ages of 18 and 30 who are currently enrolled in HEC-recognized educational institutions.
The scheme aims to give students easy access to laptops to improve their learning and productivity.
To complete this, an agreement will be signed between universities and banks that will offer laptop financing. According to the event, universities will refer eligible students to participating banks via the PMYP portal.
On the other hand, banks supply laptops to these students with universities to ensure that the students meet the required terms.
