The Khyber-Pakhtunkhwa (K-P) government has launched the Ehsaas Nojawan Program to empower the youth of the province by providing interest-free loans for starting their own businesses. This initiative is part of the broader Ehsaas Initiatives aimed at reducing unemployment and fostering economic growth.
The program was officially launched at a ceremony held at the Chief Minister’s House in Peshawar, with Chief Minister Ali Amin Khan Gandapur as the chief guest. Provincial cabinet members, officials from the Department of Youth Affairs, and selected beneficiaries also attended the event.
The Ehsaas Nojawan Program is a three-year initiative with an initial budget of Rs3 billion, of which Rs1.1 billion has been allocated for the current fiscal year. The program is divided into two components, each catering to different groups of young entrepreneurs.
Key Features of the Ehsaas Nojawan Scheme
| Feature | Bank of Khyber (BoK) | Akhuwat Microfinance Bank |
|---|---|---|
| Loan Range | Rs1 million to Rs5 million | Rs100,000 to Rs500,000 |
| Target Group | Clusters of 3-5 youth | Individual entrepreneurs |
| Age Limit | 18-35 years | 18-40 years |
| Repayment Grace Period | 20 months | 20 months |
| Special Quotas | Women and disabled individuals | Women and disabled individuals |
- Interest-free loans for youth aged 18-40 years.
- Two components:
- Bank of Khyber (BoK): Loans ranging from Rs1 million to Rs5 million for groups of 3-5 individuals.
- Akhuwat Microfinance Bank: Loans ranging from Rs100,000 to Rs500,000 for individual entrepreneurs.
- Flexible repayment schedule: 8 years with a 20-month grace period.
- Special quotas for women and persons with disabilities.
Eligibility Criteria
To apply for the Ehsaas Nojawan Program, applicants must meet the following requirements:
- Age: 18-35 years for BoK loans; 18-40 years for Akhuwat loans.
- Residency: Must be a resident of Khyber Pakhtunkhwa.
- Valid CNIC: A copy of the Computerized National Identity Card is required.
- Business Plan: A viable and detailed business proposal.
- Clean Credit History: No previous defaults or bad credit records.
How to Apply for the Ehsaas Nojawan Program?
The application process is simple and can be completed online. Follow these steps:
- Check Eligibility: Ensure you meet the age and residency requirements.
- Prepare a Business Plan: Create a detailed proposal outlining your business idea, goals, and projected outcomes.
- Submit Application: Apply through the Ehsaas Nojawan Program online portal.
- Partner Assessment: Your application will be reviewed by either the Bank of Khyber or Akhuwat Microfinance Bank, depending on the loan type.
- Approval and Disbursement: If approved, the loan will be disbursed based on the selected financing component.
Loan Details
Component I: Bank of Khyber (BoK)
- Loan Range: Rs1 million to Rs5 million.
- Target Group: Clusters of 3-5 skilled youth.
- Process:
- Submit application via the online portal.
- Present a viable business plan.
- Provide required documentation.
- Undergo business proposal evaluation.
Component II: Akhuwat Microfinance Bank
- Loan Range: Rs100,000 to Rs500,000.
- Target Group: Individual entrepreneurs (literate or illiterate).
- Process:
- Apply through Akhuwat’s interest-free loan program.
- Demonstrate a clear business proposal.
- Meet eligibility criteria and complete documentation.
Benefits of the Ehsaas Nojawan Program
- Interest-free financing for business startups.
- Flexible repayment options with a grace period.
- Support for women and persons with disabilities.
- Dedicated support staff to guide applicants through the process.
- Regular updates on application status.
Conclusion
The Ehsaas Nojawan Program is a transformative initiative by the K-P government to empower the youth and reduce unemployment. By providing interest-free loans and comprehensive support, the program encourages young individuals to become entrepreneurs and contribute to the province’s economic growth.
If you are a young resident of Khyber Pakhtunkhwa with a viable business idea, don’t miss this opportunity. Apply online today and take the first step towards financial independence!
For more information, visit the official Ehsaas Nojawan Program portal or contact the Department of Youth Affairs.