ISLAMABAD, (APP): National Bank of Pakistan (NBP) has put the names of the successful candidates of the first balloting result for the PM’s Youth Business Loan Scheme on its website. All the applicants whose name have been selected in the balloting, have been requested to visit NBP’s website www.nbp.com.pk to view the complete list of successful candidates. Prime Minister, Mian Muhammad Nawaz Sharif had announced the results of first balloting on February 28. The event was also attended by Chairperson of PM’s Youth Business Loan Scheme, Maryam Nawaz, ministers and members of Parliament, NBP Chairman Muneer Kamal, NBP President & CEO, Syed Ahmed Iqbal Ashraf and other distinguished guests and dignitaries.
National Bank provided processed 6,077 cases for balloting, out of which 5,350 applicants were declared successful after the balloting.
While 4085 applications were declared successful out of total 4,782 cases belonging to Punjab, names of 105 applicants out of 135 cases sent from Islamabad, were among the successful.
From AJK 75 cases, Baluchistan 73, KPK 670 and Sindh 342 cases were sent and all cases came out successful in balloting.
Applicants have applied for loans for different business sectors mainly dairy and livestock, agri processing, boutiques light engineering, marketing and distribution, education and retail trade.
The list comprising applicant names along with their CNIC number and branch is available on National Bank website and customers can view the details at http://www.nbp.com.pk/PMYBL/PMYBL-First-Balloting-Results.pdf
The scheme is aimed at exploiting the skills of the unemployed youth that may benefit in country’s economic growth and prosperity along with promoting SMEs.
Unemployed citizens of 21 to 45 age group would be given Rs.100,000 to Rs.2,000,000 for initiating their business ventures.
These loans are for period of up to eight years including one-year grace period and a maximum debt-equity ratio of 90:10.
The Bank is only responsible for accepting, scrutinizing and approving the applications as per criteria and the amount will be disbursed after documentation by the those who name have appeared as successful candidates in the ballot.