Interest Free Loans for Youth to Start Businesses!

A groundbreaking initiative has been launched in Peshawar under the Ehsaas Youth Program, offering interest-free loans to empower young people. In a special ceremony, Chief Minister Khyber Pakhtunkhwa, Ali Amin, distributed loan cheques to the youth, marking a significant step toward creating jobs and fostering self-reliance among the younger generation.

The program is a flagship project aimed at enabling young people to start their own businesses without the financial burden of interest. This step is expected to pave the way for countless entrepreneurial opportunities, allowing the youth to contribute positively to the economy while achieving financial independence.

The initiative has been rolled out as part of a three-year plan with a total budget of 3 billion PKR. For the current fiscal year, a dedicated 1.10 billion PKR has been allocated to ensure smooth implementation. The first phase of this ambitious program is being executed in collaboration with the Bank of Khyber, which is providing interest-free loans worth 1 billion PKR.

One of the most remarkable aspects of this program is the initial 20-month grace period, during which beneficiaries are not required to repay the loans. This feature aims to ease the financial pressure on young entrepreneurs as they establish their businesses.

The Chief Minister also revealed that a total of 15 billion PKR has been set aside in the budget for Ehsaas initiatives, reflecting the government’s commitment to youth development and social welfare. This program is not only providing financial assistance but also offering hope to thousands of young individuals eager to make their mark in the business world.

Moreover, the initiative includes provisions for interest-free loans to purchase electric bikes, further expanding its scope to promote sustainable transportation and create new opportunities for the youth.

This bold and innovative program is set to transform lives, fostering a culture of entrepreneurship and economic empowerment. With its far-reaching impact, the Ehsaas Youth Program promises to be a milestone in uplifting the youth and driving progress across the province.