Circulars/Notifications / Infrastructure, Housing & SME Finance Department  

 IH&SMEFD Circular Letter No. 08 of 2016
November 08, 2016


The Presidents/Chief Executive Officers,
All Banks

Dear Sir/Madam,

Prime Minister's Youth Business Loans

Please refer to IH&SMEFD Circular No. 10 of 2013 dated November 18, 2013 and subsequent IH&SMEFD Circular Letters issued from time to time on the captioned subject.

In continuation of the instructions issued vide above Circular and Circular Letters and in order to prevent submission of multiple loan applications by a single applicant or multiple guarantees by a single person, a portal for PMYBL data reporting has been put in place by State Bank of Pakistan. Banks working as PMYBL Executing Agencies (EAs) are advised to submit status of loan applications on daily basis with effect from January 01, 2017 as per format attached (Annexure-A).

Besides, status and position of loans under PMYBL Scheme may be reported on monthly basis, from December, 2016 onwards, as per format attached Annexure-B.

In this respect, following additional instructions may also be noted:

  1. Executing Agencies (EAs) shall not accept for processing PMYBL application of an individual if a similar financing request of said individual is already under approval process with another EA. However, this restriction shall remain valid for a period of 90 days from the date of acceptance of the application by the first EA. After lapse of 90 days, any of the other EAs at their discretion, can also accept PMYBL application of the said individual. In case the first EA rejects the application earlier than 90 days, then it will provide an ‘NOC’ for enabling the applicant to approach other EAs for seeking financing under PMYBL scheme.
  2. Submission of PMYBL applications daily data will run with a one day backlog and shall be reported as per attached format of Annexure-A. For example, December 31, 2016 data shall be submitted on January 01, 2017.
  3. PMYBL data submitted by EAs on Annexure-A will be updated in the central portal on daily basis and it will be accessible to the EAs free of cost for making enquiries regarding the applicants and guarantors status from view point of checking the multiple financing by an individual or multiple guarantees by a single individual against more than one loans.
  4. Monthly loan position data as per Annexure-B shall be submitted within seven (7) working days after the end of each month. For example, data for the month of December, 2016 shall be uploaded within seven working days in January, 2017.
  5. In case of any query, please contact our data warehouse helpdesk team on telephone 021-32453623 or through email at dwhsupport@sbp.org.pk
Other instructions on the subject remain unchanged. Please ensure meticulous compliance of these instructions.


Encl: 1. Annexure A: PMYBL Scheme Applications - Daily Reporting
        2. Annexure B: PMYBL Scheme Loan Status - Monthly Reporting


Yours sincerely,



(Syed Basit Aly)
Director



 

       
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