The Presidents/Chief Executives,

All Banks/DFIs

Dear Sir/Madam,

Prime Minister's Kamyab Jawan Youth Entrepreneurship Scheme (PMKJ-YES)

Please refer to IH&SMEFD Circular No. 08 dated July 11, 2019 and IH&SMEFD Circular Letter No. 06 dated September 05, 2019 on the captioned subject.

2. In this regard, please find attached herewith the mechanism for payment of service charges subsidy and portfolio loss sharing with banks working as Executing Agencies (EAs) for PMKJ-YES. EAs are advised to submit their claims to Development Finance Support Department, SBP BSC, Karachi as per instructions contained in the attached payment mechanism within 15 working days of the end of each Quarter. In this respect, EAs shall submit their first claim within 15 working days of end December 2019.
3. Other instructions on the subject shall remain unchanged. Please ensure meticulous compliance of the instructions.

Encl:

i. Payment Mechanism of PMKJ-YES