30 November 2023

Prime Minister’s Youth Entrepreneurship Scheme 2023

Prime Minister’s Youth Entrepreneurship Scheme 2023 – In line with what the Government of Pakistan wants, Meezan Bank has a program.

To help young people start their own businesses. Eligible people can only apply for this funding through the Kamyab Jawan Portal, which can be found at www.kamyabjawan.gov.pk.

Pakistan’s government created the “Prime Minister’s Kamyab Jawan – Youth Entrepreneurial Scheme” (PMKJ-YES) to help young entrepreneurs and small and medium-sized businesses get the money they need. This financing plan will help young people get affordable loans to start new SME businesses or improve the ones they already have. According to the orders from the government of Pakistan, 25% percent of the loans will be given to women. Prime Minister’s Youth Entrepreneurship Scheme 2023.

Students Loan Scheme 2023 – Details of Eligibility

Prime Minister's Youth Entrepreneurship Scheme 2023

Eligibility Criteria

  • All Pakistani citizens with a CNIC who are between 21 and 45 years old and have the potential to start their own businesses are eligible. For businesses that have to do with IT or E-Commerce, the minimum age will be 18.
  • Individuals and sole proprietors are subject to the above age limit. For all other types of businesses, such as partnerships and corporations, only one of the owners, partners, or directors must be between the ages listed above.
  • Small and medium-sized businesses (SMEs) in all fields, including agriculture, can get new loans.

Note: The State Bank of Pakistan has a rule that the negative history of consumer/individual customers (such as overdue, late payment, write-off, or waiver) will be shown in eCIB reports for two years after settlement. (Prime Minister’s Youth Entrepreneurship Scheme 2023).

TierFinancing Amount (PKR)Customer Profit RateSecurityMinimum Equity or Down Payment*
Tier – I0.1M to 1M3% p.a.Clean10%
Tier – IIAbove 1M to 10M4% p.a.Collateralized20%
Tier– IIIAbove 10M to 25M5% p.a.Collateralized20%
*Only required for new businesses. Both Musawammah and Murabaha allow for a down payment.

How to Apply

  1. Use the government’s website to apply (Click Here)
  2. Meezan Bank should be chosen as the bank.
  3. When Meezan Bank gets the request, it will start the first screening of the information given.
  4. Based on its financing policy and evaluation criteria, the Bank will look at the business potential.
  5. Each applicant will be asked to come in for an interview and evaluation.
  6. Using a strong independent verification mechanism, the Bank will check how the financing is being used to evaluate and keep track of it over time.
  7. Financing will be approved or denied based on the customer’s profile and whether or not he or she is eligible under the government’s scheme and the bank’s financing policy. The decision will be sent to the customer via SMS on the number given.
  8. Shariah rules say that successful customers would be able to get financing to buy assets or inventory.

Types and Purpose of Financing

Types of Financing

  • Musawammah
  • Murabaha
  • Diminishing Musharaka

Purpose of Financing

  • Working Capital
  • Long term financing
  • Vehicle Financing

Forms of Equity / Down payment

The customer’s equity/down payment could be in the form of cash or property that can’t be moved. This will be needed after the loan is approved.

The type of equity or down payment can change from product to product and from tier to tier.


Depending on the product (2 to 8 Years)

The grace period can be up to a year and can be different depending on the type of financing.


Financing under Tier-I: Clean, but only the customer will be asked for a personal guarantee.

Financing under Tiers 2 and 3: Based on the Bank’s policy for financing.

Turnaround/Form Processing

The whole process won’t take more than 30 days.

The fee for processing the form, which is non-refundable, will be Rs. 100. This fee includes the fee for NADRA online CNIC verification.

Places Were Visited

Tier I: Only the biggest cities (Karachi, Lahore, Islamabad, Rawalpindi, Multan, Faisalabad).

Tier-II and Tier-III: All cities where Meezan Bank has a branch.

Only approved vendors will be able to offer to finance for Tier-I projects because the projects are small and there are a lot of them. So, at first, the Bank will only lend money under Tier-I in cities where there are financing hubs and approved vendors.

Sectors & Products

Tier-I: (Smartphones, Tablets, Laptops, Desktop Computers, Bikes, Generators, Solar systems) (Smartphones, Tablets, Laptops, Desktop Computers, Bikes, Generators, Solar systems).

Levels II and III: (All sectors and products including agriculture, subject to the possibility of performing Shariah compliance transactions).

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