The Khyber Pakhtunkhwa (K-P) government has launched a new program to help skilled young people in the province. Under the Ehsaas Hunar Program, youth with technical skills can get interest-free loans to start their own businesses. This initiative is a joint effort between the Technical Education and Vocational Training Authority (TEVTA) and the Bank of Khyber (BoK). The goal is to reduce unemployment and encourage young people to become entrepreneurs.
| Feature | Details |
| Loan Amount | Up to Rs500,000 per person. |
| Repayment Period | 36 months (3 years). |
| Eligibility Age | 18 to 40 years. |
| Target Beneficiaries | 35,000 skilled youth with certificates or diplomas. |
Who Can Apply for the Program?
The Ehsaas Hunar Program is for skilled young people in Khyber Pakhtunkhwa. To be eligible, applicants must be between 18 and 40 years old and have a skill certificate or diploma from a recognized institution. This ensures that only trained individuals receive the loans to start their businesses.
The program aims to help 35,000 young people by giving them the financial support they need to become self-employed. By focusing on skilled youth, the program helps bridge the gap between education and employment, allowing young people to contribute to the economy.
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How Does the Program Work?
The Bank of Khyber (BoK) will handle the distribution of loans. A total of Rs3 billion has been set aside for the program, with Rs200 million allocated for the year 2024-25. Each eligible person can receive an interest-free loan of up to Rs500,000, which must be repaid in 36 monthly installments.
The Technical Education and Vocational Training Authority (TEVTA) will help identify eligible candidates and ensure the loans are used for productive purposes. The partnership between TEVTA and BoK ensures a smooth and fair process for loan distribution.
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Why Was This Program Started?
- To Tackle Unemployment: The program helps reduce joblessness by giving skilled youth the tools to start their own businesses.
- Encourage Self-Employment: It motivates young people to become entrepreneurs and create their own job opportunities.
- Connect Skills with Jobs: The initiative links technical training with real-world opportunities, helping youth use their skills productively.
- Support Economic Growth: By backing small businesses, the program boosts the province’s economy.
- Empower Young People: It offers financial freedom and chances for skilled youth to succeed and generate jobs for others.
- Remove Financial Hurdles: Interest-free loans remove the challenge of high-interest rates, making it easier for youth to get funding.
- Encourage Creativity: The program inspires innovation by helping young people turn their ideas into successful businesses.
- A Key Government Project: It shows the government’s dedication to youth development and economic progress.
What Are the Expected Results?
The Ehsaas Hunar Program is expected to make a big difference in the lives of skilled youth in Khyber Pakhtunkhwa. By providing financial support, the program will help young people start businesses, create jobs, and boost the local economy.
The initiative also aims to reduce dependence on traditional jobs and encourage innovation among young people. By promoting entrepreneurship, the program will help build a stronger and more dynamic economy in the province.
Conclusion
The Ehsaas Hunar Program is a great step by the Khyber Pakhtunkhwa government to support skilled youth and encourage entrepreneurship. By offering interest-free loans, the program removes financial barriers that often stop young people from starting their own businesses.
The collaboration between TEVTA and the Bank of Khyber ensures a fair and efficient process. With a focus on skilled youth, the program has the potential to change the lives of thousands of people and help the province’s economy grow.
FAQs
1. Who can apply for the Ehsaas Hunar Program?
Skilled youth aged 18 to 40 with a skill certificate or diploma from a recognized institution can apply.
2. How much money can a person get?
Each eligible person can receive up to Rs500,000 as an interest-free loan.
3. How long is the repayment period?
The loan must be repaid in 36 monthly installments over three years.
4. How many people will benefit from the program?
Around 35,000 skilled youth are expected to benefit from the program.
5. Who is running the program?
The program is being managed by the Technical Education and Vocational Training Authority (TEVTA) and the Bank of Khyber (BoK).