The Presidents/Chief Executive Officers

All Banks

Dear Sir/ Madam,

Prime Minister’s Youth Business Loans

Please refer to IH&SMEFD Circular Letter No. 08 of 2014 dated July 22, 2014 on the captioned subject. In this regard, banks are advised to note the following instructions:

1. Timeline for submission of subsidy claims by banks working as PMYBL Executing Agencies (EAs) has been enhanced by 5 working days i.e. from existing 10 working days to 15 working days. Accordingly, after receipt of claims complete and correct in all respects, Development Finance Support Department, SBP BSC shall process EAs claims for payment within 15 working days instead of 10 working days fixed earlier.
2. Executing Agencies shall observe standard business rules for calculation of markup subsidy under PMYBL Scheme placed at Annexure-A.
3. Executing Agencies shall submit their PMYBL Subsidy Claims on specified Forms placed at Annexure-B.

Other instructions on the subject shall remain unchanged. Please ensure meticulous compliance of these instructions. Encl:

Annexure A: Standard Business Rules for calculation of markup subsidy under PMYBL Scheme

Annexure B: PMYBL Subsidy Claim Forms (Form-1, Form 2, Form-3)