The government of Khyber Pakhtunkhwa has launched the Ehsaas Hunar Program to support skilled youth by providing interest-free loans. This initiative aims to help young individuals start their own businesses, reducing unemployment and boosting the province’s economy. The program is being implemented through a partnership between the Technical Education and Vocational Training Authority (TEVTA) and the Bank of Khyber (BoK).
Key Features of the Ehsaas Hunar Program
This program is specially designed for skilled individuals who want to establish their own businesses but lack financial resources. Some of its main features include:
- Interest-Free Loans: Eligible candidates can receive up to PKR 500,000 without any interest.
- Easy Repayment Plan: The loan can be repaid in 36 monthly installments, making it easier for young entrepreneurs.
- Eligibility Criteria: The applicant must be a resident of Khyber Pakhtunkhwa, between 18 and 40 years old, and must have a recognized skill certificate or diploma.
Short Overview of the Program
| Feature | Details |
|---|---|
| Loan Amount | Up to PKR 500,000 |
| Repayment Time | 36 months |
| Eligibility | Skilled youth (18-40 years) |
| Total Budget | Over PKR 3 billion |
Government’s Financial Support and Implementation
The Khyber Pakhtunkhwa government has allocated more than PKR 3 billion for this program. For the fiscal year 2024-25, PKR 200 million has been reserved. The project is managed by TEVTA and the Bank of Khyber, ensuring proper distribution and monitoring. The program will benefit 35,000 skilled individuals, allowing them to become self-sufficient.
Application Process for the Loan
The application process is simple and transparent. Interested individuals can apply through TEVTA and BoK’s official channels. The following documents are required:
- Skill Certificate: Proof of training in a specific skill.
- Age and Residency Proof: National Identity Card (CNIC) to confirm eligibility.
- Business Plan: A simple plan explaining how the loan will be used.
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Expected Benefits of the Program
This initiative is expected to bring positive changes to the province, including:
- Boosting Entrepreneurship: Young people will be able to start their own businesses and become financially independent.
- Job Creation: As new businesses grow, more employment opportunities will be available for others.
- Economic Development: A stronger small business sector will contribute to the overall economy of Khyber Pakhtunkhwa.
Comparison with Other Youth Loan Programs
In Pakistan, similar programs have been introduced, such as the Prime Minister’s Youth Loan Scheme. However, the Ehsaas Hunar Program stands out because it is completely interest-free and is specifically targeted at skilled individuals in Khyber Pakhtunkhwa. This shows the provincial government’s dedication to empowering its youth.
Conclusion
The Ehsaas Hunar Program is a great opportunity for the skilled youth of Khyber Pakhtunkhwa. By providing interest-free loans, the government is helping young individuals establish businesses, reducing unemployment, and strengthening the local economy. This initiative reflects the government’s commitment to youth empowerment and economic growth.
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FAQs
1. Who can apply for the Ehsaas Hunar Program?
Anyone between 18 and 40 years old who is a resident of Khyber Pakhtunkhwa and has a recognized skill certificate can apply.
2. How much loan can I get?
The maximum loan amount is PKR 500,000, which is completely interest-free.
3. How can I repay the loan?
The loan can be repaid in 36 easy monthly installments.
4. Where can I apply for the program?
You can apply through TEVTA and the Bank of Khyber by submitting the required documents.