Pakistan State Bank (SBP) has revealed that Prime Minister Shehbaz Sharif has expanded the scope of the youth and agricultural loans for young people.
This includes loans for the purchase of laptops and for people looking for a job abroad.
According to the SBP declaration, a four -year loan will be available for laptops at Kibor plus 3%, with eligible students aged 18 to 30 years in establishments approved by HEC.
The loans will be located from 150,000 PKR to 450,000 PKR, and reimbursements will be aligned with the payments of university costs.
In addition, loans up to 1 million PKR will be granted to people who go abroad for work, covering training, visa and travel costs.
These loans will have a five -year term with a Kibor more 3%banking rate, available for people aged 21 to 45.
As part of the newly introduced “level 4” of the Prime Minister’s loan program for the young people, flexible loans will be made available for the purchase of laptops.
This initiative targets students from the Higher Education Commission (HEC), recognized establishments, as well as freelancers and young entrepreneurs.
Eligible candidates must be Pakistani citizens aged 18 to 30, currently registered in educational establishments recognized by HEC.
The program aims to offer students easy access to laptops to improve their learning and productivity.
To implement this, an agreement will be signed between universities and banks that will offer laptop financing. As part of the arrangement, universities will refer students eligible for participating banks via the PMYP portal.
In return, banks will provide laptops to these students, universities ensuring that students fulfill the required terms.
