Two significant youth-supporting initiatives have recently been introduced by the Khyber Pakhtunkhwa (KP) government. These initiatives are known as the Chief Minister Youth Internship Program and the Ehsaas Naujwan Program. These programs aim to help young people launch their enterprises or further their professions by giving them financial aid and work experience. These programs were started by Chief Minister Ali Amin Gandapur with the goal of empowering young people to become skilled and financially independent. Let’s examine each component of these initiatives to determine how they will help KP’s youth.
| Program | Details |
| Ehsaas Naujwan Loans | Rs1 million – Rs5 million loans |
| Small Business Loans | Rs100,000 – Rs500,000 loans |
| Youth Internship | Rs25,000 monthly stipend |
| Special Quotas | Reserved for women, disabled, minorities |
Ehsaas Naujwan Program: Interest-Free Loans for Young People
Young people who want to launch their own businesses can apply for interest-free financing through the three-year Ehsaas Naujwan Program. The program’s Rs3 billion budget is devoted to providing financial support to young people. To finance their company ideas, young people between the ages of 18 and 35 can apply for loans between Rs. 1 million and Rs. 5 million. Budget for the entire program: Rs3 billion Amount borrowed: between Rs. 1 million and Rs. 5 million Age range for eligibility: 18 to 35 years 8 years of repayment plus a 20-month grace period.
Small Business Loans Through Akhuwat Microfinance
The KP government has joined forces with Akhuwat Microfinance Bank to provide additional assistance to tiny enterprises. For young individuals wishing to launch small companies, Rs2 billion has been set aside as part of the Ehsaas Naujwan Program. Young people between the ages of 18 and 40 are eligible to apply for loans between Rs100,000 and Rs500,000. Young people can more easily repay these loans over time as their firms expand because they are interest-free. This loan program is appropriate for people with modest business ideas who need some assistance to get their ventures off the ground but don’t need a lot of money.
Reserved Quotas for Women and Other Groups
In order to guarantee equal opportunity for all groups, the program also incorporates unique quotas. Young women are eligible for 15% of the loans. Furthermore, 2.5% is designated for minorities, 5% for Madressah students, and 2.5% for those with disabilities. Under-represented groups are guaranteed the opportunity to gain financially from these protected quotas. This strategy encourages all young people, regardless of background, to follow their aspirations of becoming financially independent and owning their own business by fostering inclusivity and diversity.
Revolving Fund for Long-Term Support
The Ehsaas Naujwan Program’s revolving fund mechanism is one of its distinctive features. The funds are returned to the fund when beneficiaries pay back their loans. Because of this circular approach, the program can keep helping new youth without constantly requiring new funding. Refunds go back into the fund. helps new applicants over time. guarantees the sustainability of the program. helps more young people in the future. In this manner, the program becomes sustainable, allowing it to continue assisting youth in the future. This approach makes sure that the program’s advantages spread over time, enabling more young people to realise their entrepreneurial ambitions.
Youth Internship Program for Career Growths
The KP government has launched the Chief Minister Youth Internship Program in addition to providing cash assistance. This program gives young people practical work experience. Each year, 400 three-month internships are available through this program. For the duration of their internship, each student will get a stipend of Rs25,000 per month. For this internship, young people with 16 years of schooling are eligible to apply. They have a great chance to obtain work experience, which will help them land positions in the public and commercial sectors once their internships are over.
Conclusion
Youth internships and the KP government’s Ehsaas Naujwan are worthwhile programs designed to empower youth. These initiatives allow young people the opportunity to develop their financial stability and career-related skills by offering interest-free loans and paid internships. In addition to helping young entrepreneurs, these initiatives contribute to the development of a bright future for KP’s youth.
Also Read More:Dhee Rani Program cmp.punjab.gov.pk Login
FAQs
The Ehsaas Naujwan Program: What is it?
It is a program that offers young people interest-free loans to launch their enterprises.
For whom is the internship program open?
The Chief Minister Youth Internship Program is open to youth with no more than 16 years of education.
Are there any choices for small business loans?
Yes, young people who want to launch tiny firms can apply for small loans ranging from Rs100,000 to Rs500,000.
What is the revolving fund used for?
By reusing loan repayments to assist new applicants, the revolving fund ensures the program’s long-term viability.