By Muhammad Soban ISLAMABAD Oct 28 (INP-WealthPK):  Prime Minister’s Kamyab Jawan Programme，has so far disbursed over Rs28 billion loans among young entrepreneurs across the country, provided them with an opportunity to start their own business and create new employment opportunities. Initially, the programme was designed to disburse Rs100 billion to 100,000 recipients, from age 18-45, during eight years. The Kamyab Jawan Programme has set aside 25 per cent of the total outlay for the women entrepreneurs, thus providing them with an opportunity to start their own businesses and earn a respectable living. Till date, 1.2 million people have applied for the loan facility, of whom, 21,584 applicants got approved and received more than Rs28 billion. While half a million applications for loans are under process. The loan is mainly being disbursed in three sectors: services, agriculture, and manufacturing. The services sector has the largest share of 68 per cent, followed by agriculture 20.6 per cent and manufacturing 11.4 per cent. According to gender statistics of the programme, among the 21,000 people who have received the loan, 16 per cent are women. Currently, Rs3-4 billion are being disbursed every month. The loan is available in three tiers as shown in the following table, where people can apply for the loan ranging from Rs100,000 to Rs2.5 million. In tier 1, people can apply for a loan amounting to Rs100,000 to Rs1 million with a markup of 3 per cent. In tier 2, people can apply for the loan ranging from Rs1 to Rs10 million with the mark up standing at four per cent. In tier 3, loan ranging from Rs10 to Rs25 million is available with five per cent markup.

	Tier 1	Tier 2	Tier 3	Total
Range of Loan	100,000-1 million	1-10 million	10-25 million	-
Mark up (%)	3	4	5	-
Total Eligible	16,199	4,717	668	21,584
Percentage	75	22	3	100

  The data shows that out of 21,584 people who received loans, 75 per cent belong to the tier 1, 22pc to tier 2 and only 667 applicants (3pc) are in tier 3. The following table presented the provincial data. The numbers suggest that more than 12 million applicants applied for a loan from four provinces, Azad Jammu and Kashmir, Gilgit-Baltistan, and the federal area under the programme. Furthermore, the data shows that the programme has so far created 33,903 jobs across the country. The statistics show that there is an almost 50 per cent approval rate of the applications. Top 21 banks of the country are the partners in the programme, providing funding and sharing risk with the government. Initially, three banks were in the programme, but now the number has increased. Both conventional and Islamic banks are part of the programme. People wanting Shariah-compliant ways of financing can also take benefit from this programme by applying for a loan through Islamic banks. When approached for comments on why the disapproval rate is so high, Special Assistant to the Prime Minister, Usman Dar, explained that the programme was a business loan facility to help entrepreneurs, to either start their businesses or upgrade the existing ones. For approval of loan, it is mandatory for an applicant to provide a proper business plan. He said most of the disapproved applicants were unable to provide a business plan, or they provided wrong information to get loans. ‘’They just apply to take a general loan,’’ he said.