Around 6,800 applicants of the Prime Minister's Youth Business Loan (PMYBL) scheme availed pre-feasibility studies and business plans prepared by the Small and Medium Enterprises Development Authority (SMEDA) and total loan amount sanctioned to such individuals remained around Rs5.5 billion. Small and Medium Enterprises Development Authority (SMEDA) has developed eighty five (85) business feasibility studies to facilitate loan applicants under the Prime Minister's Youth Business Loan Scheme (PMYBL), said annual report 2016-17 of the authority.
The scheme was launched in 2013 to provide loans to youth on special terms and enabled them to start their own businesses. The terms and conditions of the scheme all Pakistani and AJK nationals, including overseas Pakistanis, between 21 to 45 years were eligible to apply for the loan up to Rs 2.00 million on the mark up rate of 6% per annum.
To facilitate the applicants, the SMEDA also developed Frequently Asked Questions (FAQs), financial calculators, business plan guidance/template and training video documentaries on various aspects of business. According to the report of the SMEDA over 18 million people downloaded the information resources and tools including pre-feasibility studies.
The organization organized six training programmes for partner organizations for orientation on standardized service delivery and handholding of PMYBL applicants and extended capacity building support to 21 organizations for pre-feasibility development, help desk operations and website revamp. The authority also provided support to ministries, organizations for developing 60 new pre-feasibilities and for this purpose 17 websites of the Ministry of Industries and Production (MoIP) and its organizations was revamped to cater to the requirements of the beneficiaries of the scheme.
The authority also organized special trainings on starting and managing small businesses in the retail sector for loan beneficiaries after sanction/disbursement of loan under the scheme and trained over 2000 participants from 38 cities of the country. For the facilitation of the applicants, SMEDA also established helpdesks to facilitate loan applicants at 29 locations in 16 cities. Over 26,800 walk-in loan aspirants/applicants have been facilitated at these desks.
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