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The Presidents/CEOs
All Banks
Prime Minister's Youth Business & Agriculture Loan Scheme (PMYB&ALS)
Inclusion of Tier-4
| S. No | Particulars | Laptop | Prospective Overseas Workers |
| 1 | Purpose | To provide laptops to students of HEC recognized institutions and freelancers and young entrepreneurs | To provide loans to prospective overseas workers for training, travel & visa related expenses and settlement expenses. |
| 2 | Eligibility Criteria | 1.Citizen of Pakistan aged between 18 and 30 years. 2.Studying in educational institutions recognized by HEC. 3,An MOU will be signed between universities and banks interested in extending laptop financing. The university will refer the students to banks through PMYP portal and banks will provide laptops to those students against the undertaking of university. 4.The instalments of laptop loan will be added in the fee by the universities and should be collected only through those banks which have provided loans for laptop financing. The bank will deduct their due instalments and will remit the remaining part to respective university. 5.For laptop financing to freelancers and young entrepreneurs, bank will seek a business plan from the applicant to use the laptop for productive purposes as well as to assess the repayment capacity of the freelancer, young professional. 6.The bank may also consider the joint income of primary and secondary borrower while assessing the repayment capacity of the borrower. |
Citizens of Pakistan holding CNIC, aged between 21 and 45 years. Having valid job letter/offer letter in hand or duly recruited by the arrangement through Overseas Employment Promoter (OEP). The Job letter to be duly authenticated by respective Pakistan Mission abroad/ Community Welfare Attaches (CWA), OEP and the Protector Office. Must provide details of overseas training, job offer etc. to justify utilization of funds |
| 3 | Loan size | Basic laptops @ Rs. 150,000 or actual cost whichever is lower Medium laptops @ Rs 300,000 or actual cost whichever is lower Advance laptops @ Rs 450,000 or actual cost whichever is lower |
Up to Rs. 1,000,000 |
| 4 | Loan type | Term Finance | Term Finance |
| 5 | Loan Tenor | Up to 4 years | Up to 5 years |
| 6 | Debt: Equity ratio | 80:20 | 80:20 |
| 7 | Bank rate | KIBOR+3 | KIBOR+3 |
| 8 | End user rate | 0% | 0% |
| 9 | Security Requirements | Undertaking by the university / colleges that degrees shall be kept as collateral against loan facility of laptop till final settlement. Personal guarantee of the family member of the borrower. |
Personal guarantee of the family member of the borrower. The loan may jointly be booked in the name of family member residing in the country & prospective overseas worker. |
| 10 | Risk Mitigation | 25% Guarantee on First Loss Basis on disbursed portfolio | 25% Guarantee on First Loss Basis on disbursed portfolio |
| 11 | Executing Agencies | Participating Commercial & Islamic banks | Participating Commercial & Islamic banks |
All types of loans will be reported in E-CIB.
Other terms and conditions of the scheme will remain unchanged.
Yours sincerely,
Najm us Saqib Shabbir
Additional Director