The State Bank of Pakistan (SBP) revealed that Prime Minister Shehbaz Sharif has expanded the scheme of youth and commercial agricultural and commercial loans scheme.
This includes loans to buy laptops and for people looking for employment abroad.
According to the SBP statement, there will be a four -year loan available for laptops at the Kibor rate more than 3%, with eligible students from 18 to 30 years of institutions approved by HEC.
Loans range from PKR 150,000 to PKR 450,000, and payments will be aligned with university rate payments.
In addition, loans of up to PKR 1 million will be provided to people who go abroad for work, cover training, visa and travel costs.
These loans will have a period of five years with a Kibor bank rate plus 3%, available for people between 21 and 45 years.
Under the newly introduced “Level 4” of the youth loan scheme of the Prime Minister, soft loans will be available for the purchase of laptops.
This initiative is aimed at students of the recognized institutions of the Higher Education Commission (HEC), as well as independent workers and young entrepreneurs.
Eligible applicants must be Pakistani citizens between 18 and 30 years old, currently registered in educational institutions recognized by HEC.
The scheme aims to provide students with easy access to laptops to improve their learning and productivity.
To implement this, an agreement between universities and banks will be signed that will offer portable computer financing. According to the agreement, the universities will refer to the students eligible to the participating banks through the PMyP portal.
In return, banks will provide laptops to these students, with universities ensuring that students meet the required terms.
