1. Please refer to IH&SMEFD Circular No. 12 of 2022 dated December 12, 2022 and subsequent instructions issued from time to time regarding Prime Minister's Youth Business & Agriculture Loan Scheme (PMYB&ALS).
   
   
2. In order to enhance the scope of scheme, Government of Pakistan has added a new tier (as ‘Tier-4’) to provide financing for laptops and prospective overseas workers as per below mentioned terms and conditions:

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	Citizen of Pakistan aged between 18 and 30 years. Studying in educational institutions recognized by HEC. 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. 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. 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. 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.