The Chief Minister of Khyber Pakhtunkhwa, Mahmood Khan, will launch the “KPK Insaf Rozgaar Scheme 2023” on April 15 to help end unemployment and poverty in the terrorism-affected areas of the province. Under this scheme, unemployed people aged 18 to 50 with skills or degrees will be eligible for interest-free loans ranging from Rs 50,000 to Rs 1 million. The government of Khyber Pakhtunkhwa aims to support the people by providing interest-free loans. This is a golden opportunity for those applicants who meet the eligibility criteria and want to get an interest-free loan. Interested applicants can download the online application form from this site.
Technically skilled people will receive loans ranging from Rs 50,000 to Rs 500,000, while others will receive loans ranging from Rs 50,000 to Rs 300,000. All individuals who are unemployed or need assistance in expanding their businesses are eligible for the loan to pursue their achievable goals. Below, we provide complete details of the KPK Insaf Rozgaar Scheme 2023. If you have any other questions, please use the comments section and we will provide you with the information you need as soon as possible.
Here are some of the key points of the scheme:
- The scheme is open to unemployed people aged 18 to 50 with skills or degrees.
- The maximum loan amount is Rs 1 million.
- The interest rate on the loan is 0%.
- The loan can be used to start a business or expand an existing business.
- The loan must be repaid within a period of 5 years.
KPK Insaf Rozgaar Scheme 2023 Loan Application Forms Eligibility Guarantor Details
Eligibility for the Scheme:
- Applicant must be permanent resident of newly merged district including erstwhile Frontier Regions of Khyber Pakhtunkhwa.
- Age Limit 18-50 years.
- Applicant shall be resident on the provided address for the last two years.
- All the individuals who are either jobless or need assistance in their business expansion are eligible for the loan to pursue the workable and achievable goals.
- The applicants should neither be a servant of any government or semi government organization nor receiving education as regular student in any educational institution.
- The applicant should not be a defaulter or has remained defaulter of any Bank/Financial Institution.
- Applicant has not received any loan from any Govt. Scheme previously.
- Application will be dealt on First Come First Serve Basis.
Loan Limit For KPK Insaf Rozgaar Scheme 2023
Professional and degree holder:
- 50,000 to 1000,000
- 50,000 to 500,000
Other unemployed wishing to start or expand the present business:
- 50,000 to 300,000
- Maximum 3 years.
- 2 persons are required as guarantor.
Criteria of Guarantor:
- Minimum 1 guarantor should be permanent employee of Federal/Provincial Govt.
- People of professional repute like Doctor, Engineers, Principals/Vice Principals.
- Members of Chamber of Commerce and Commercial Associations.
- Guarantor should not be from any Bank, Financial Institution.
- No Guarantor can guarantee more than 2 loans.
How to Apply for the Insaf Rozgar Scheme 2023?
Apply for the Insaf Rozgar Scheme 2023, follow these steps:
- Visit the Bank of Khyber website or contact your nearest branch to obtain the application form.
- Complete the application form and submit it along with the following documents:
- Valid Computerized National Identity Card (CNIC)
- Feasible business idea
- A guarantor
- The Bank of Khyber will review your application and notify you of the decision within 15-30 days.
- If approved, you’ll need to sign a loan agreement and pay a 10% down payment. The remaining 90% will be disbursed in installments.
- Repay the loan within 5 years at a 0% interest rate.
Additional eligibility criteria for the KPK Insaf Rozgaar Scheme 2023 include:
- Being a permanent resident of Khyber Pakhtunkhwa.
- Age between 18 and 50.
- Possessing a viable business idea.
- Having a guarantor with good credit history, also a permanent resident of Khyber Pakhtunkhwa.
If you meet the eligibility criteria and are interested in applying for the Insaf Rozgar Scheme 2023, please visit the Bank of Khyber website or contact your nearest branch.
Download Online Application Form
- Download Online Application Form: Click Here
FAQs About KPK Insaf Rozgaar Scheme 2023
What is the KPK Insaf Rozgaar Scheme?
The KPK Insaf Rozgaar Scheme is a government initiative to provide interest-free loans to unemployed youth and women in Khyber Pakhtunkhwa.
Who is eligible for the KPK Insaf Rozgaar Scheme?
The scheme is open to all permanent residents of Khyber Pakhtunkhwa who are between the ages of 18 and 50.
What are the application requirements for the KPK Insaf Rozgaar Scheme?
To apply for a loan under the scheme, you must submit the following documents:
- A valid Computerized National Identity Card (CNIC)
- A do-able business idea
- A guarantor
Where can I apply for a loan under the KPK Insaf Rozgaar Scheme?
You can apply for a loan at any branch of the Bank of Khyber.
What is the processing time for loan applications under the KPK Insaf Rozgaar Scheme?
The processing time for loan applications is typically 15-30 days.
What are the repayment terms for loans under the KPK Insaf Rozgaar Scheme?
Loans under the scheme are repayable over a period of 5 years.
What are the benefits of the KPK Insaf Rozgaar Scheme?
The benefits of the scheme include:
- Access to affordable finance
- Support to help businesses succeed
- Opportunity to create jobs and contribute to the economy
How can I get more information about the KPK Insaf Rozgaar Scheme?
You can get more information about the scheme by visiting the Bank of Khyber website or contacting your nearest branch.
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