On January 25, 2023, Mr. Shahbaz Sharif (Wazir Azam), the Prime Minister of Pakistan, launched the NEW PM Agriculture and Business Loan Scheme 2023 for Youth Online Apply. This interest-free and with-interest Youth loan program aims to get young people jobs and make them rich through the Wazir Azam loan program.
Tires Detail Prime Minister Youth Program Loan 2023
|Tier 1||The range is 0.5 million PKR with a 0% markup|
|Tier 2||The content is above 0.5 Million upto 1.5 Million PKR with a 5% markup|
|Tier 3||The content is above 1.5 Million upto 7.5 Million PKR with a 7% markup|
Apply for the Prime Minister’s Youth Loan Scheme 2023 online.
In this Prime Minister Youth Loan Scheme 2023, the PM said that his government would make it easy to borrow between Rs0.5 million and Rs1.5 million at pmyp portal gov pk.
Yesterday in Islamabad, PM Shehbaz made this announcement at a ceremony for the easy PM loan program for young people.
The PM Youth Loan Scheme 2023 has three different levels of loan amounts.
- Up to Rs. 500,000 for Tier 1 (T1)
- Tier 2 (T2): More than 0.5 million rupees but less than 1.5 million rupees
- Tier 3 (T3): More than Rs. 1.5 million and up to Rs.
- Term for PM Loan Scheme 2023/ working capital loans, including Murabaha and leasing/financing of machinery and locally made vehicles for commercial use.
- Each borrower is only allowed to have one car. A food franchise and distribution business borrower can get money for more than one vehicle.
- Civil Works can get up to 65% of the total amount of money that can be borrowed.
- For agriculture, production, and development loans are eligible.
The PM said that young people will be able to get loans up to Rs0.5 million with no interest and loans from Rs0.5 million to Rs1.5 million with a 7% interest rate. These loans will have to be paid back in seven years.
According to the new Prime Minister Loan Scheme 2023, young people in Pakistan can get loans of up to 7.5 million rupees (75 lacs) in easy steps. They can grow both their business and the way they farm.
PM Agriculture and Business Loan Scheme Eligibility Criteria 2023
- For IT Business, the age limit is 18 years instead of 21 years for all males and females between the ages of 21 and 45, special persons (disabled people), and transgender people.
- The government has decided to give women a 25% loan.
List of Banks for the PM Youth Business Loan Program 2023
The following banks are participating in this PM Youth Loan scheme 2023:
- United Bank Limited
- MCB Bank Limited
- Bank of Khyber
- Albaraka Bank Limited
- Allied Bank Limited
- Askari Bank Limited
- Bank Al Falah
- Bank Al Habib
- Bank Islamic Pakistan Limited
- Bank of Punjab
- Dubai Islamic Bank Limited
- Faysal Bank Limited
- First Woman Bank Limited
- Habib Bank Limited
- Habib Metropolitan Bank Limited
- JS Bank Limited
- Meezan Bank Limited
- MCB Islamic Bank Limited
- National Bank of Pakistan
- Sindh Bank Limited
- Soneri Bank Limited
The Prime Minister’s Youth Loan Amount and Interest Rate in 2023
|Sr. No||Tier||Limit of Loan||Interest Rate|
|1||T-1||Upto 5 Lac (0.5 million)||Interest-Free|
|2||T-2||5 lac to 15 Lac (0.5 million to 1.5 million)||5%|
|3||T-3||15 lac to 75 Lac (1.5 million to 7.5 million)||7%|
Online PM (Wazir Azam) Youth Loan Application 2023
Interested young males and females can apply online for the Prime Minister of Pakistan’s Youth Loan Scheme 2023.
- A passport-sized photograph CNIC (front and back)
- a certificate or diploma from an educational institution (if applicable)
- Experience Certificate (if applicable)
- Registration with a chamber of commerce/licensing (if applicable)
- A recommendation letter from the relevant chamber, trade association, or union (mandatory in case of existing business).
Data Required to Fill:
- Organization Name
- Legal Status
- Name of Authority
- CEO/Head/ Executive Director
- Number of Board Members
- Website URL
- Number of Team Members
- Twitter URL
- LinkedIn URL
- Facebook URL
- Instagram URL
- Mobile Number
- Office Contact
- Focus Area
- Office Address
pmyp.gov.pk Loan Form
Applicants must have their National Tax Number ready before they can start the application process. They can get a copy by going to the Federal Board of Revenue’s website. They must also have an electricity bill, a consumer ID with their current address, and an office address.
Shahbaz Sharif PMYP Portal gov pk
This chance for young people in Pakistan to get a loan is very helpful. Many young people can’t start their own businesses because they don’t have enough money. They can start their business if they get this loan amount. In this way, they can help Pakistan’s economy grow. There are many ways to make money in the IT field. Before this, the PM Agriculture and Business Loan Scheme 2023 for young people was also started.
Prime Minister Youth Program 2023
An internship for PM Kamyab Jawan was announced. The Prime Minister Youth Program 2023 Online can now be signed up for online. This PM Youth Loan scheme 2023 helped Pakistan’s young people get good jobs. This plan gives business students a great chance to get ahead.
With a monthly stipend of up to 10,000 rupees, students can learn about marketing, food, technology, law, finance, engineering, and public administration. Now, anyone can apply online for this stipend and make a career out of it. The site nip.gov.pk is where people can apply.