DLP Report
PESHAWAR
The Khyber Pakhtunkhwa Chief Minister on Friday launched an online portal to provide loans under the Ehsaas Youth Scheme, an initiative aimed at empowering the youth and promoting employment in the province.
The online application process allows youth to apply for loans with favorable terms.
The program, which will cost three billion rupees over three years, is a collaboration between the Department of Youth Affairs, Bank of Khyber, and Akhwat Microfinance.
A memorandum of understanding (MoU) was signed during a ceremony at the Chief Minister’s House in Peshawar, where Chief Minister Ali Amin Gandapur officially launched the portal.
The Ehsaas Youth Program is divided into two parts. The first, in partnership with the Bank of Khyber, offers interest-free loans of up to Rs 50 lakh to clusters of three to five youth aged 18 to 35.
A repayment schedule of eight years has been established for the loans, which are designed to help youth start their own businesses. This portion of the program is funded with one billion rupees.
The second part, in collaboration with Akhwat Microfinance, allocates Rs 2 billion to provide interest-free loans ranging from Rs 1 lakh to Rs 5 lakh for small-scale businesses.
The program targets individuals aged 18 to 40 and includes a 15pc loan quota for young women, 2.5pc for minorities, and 5pc for youth from religious schools.
Additionally, Chief Minister Gandapur launched the Chief Minister Youth Internship Program, which will offer 400 internships annually.
Eligible youth aged up to 29, with at least a 16-year academic background or an equivalent qualification, will receive a monthly stipend of Rs 25,000 for three-month internships.
Upon completion, interns will be given job opportunities in public and private sectors.
Gandapur emphasized that the aim of the program is to help youth become economically independent by providing them with the resources to start businesses. He also noted that these loans would be given on merit to ensure they benefit those who truly need them.
