Ehsaas Hunar Program 2025: Interest-Free Loans for Youth Empowerment

The Ehsaas Hunar Program 2025 is an exciting new initiative launched by the Government of Khyber Pakhtunkhwa, aimed at empowering our youth through interest-free loans. This program, managed by KP-TEVTA in partnership with Akhuwat Microfinance Services, is all about tackling poverty, creating job opportunities, and fostering self-reliance by financially backing young entrepreneurs and skilled workers throughout the province. With a budget of around Rs. 3,084.45 million, this initiative is part of the Annual Development Plan (ADP) for 2024-25 and aligns perfectly with the Sustainable Development Goals (SDGs), especially those focused on economic growth, job creation, and poverty alleviation.

Objectives of the Ehsaas Hunar Program

The primary aim of this program is to empower young people with the technical and vocational skills they need by offering them interest-free loans. Here’s what the program hopes to achieve:

• Tackle unemployment and poverty by helping young individuals kickstart their own businesses.
• Enhance livelihoods by providing financial support to skilled workers and budding entrepreneurs.
• Encourage self-employment by supplying the necessary capital to start or grow businesses.
• Boost financial inclusion by ensuring access to interest-free credit options.
• Increase foreign remittances by assisting skilled youth in securing job opportunities abroad.
• Draw unskilled and unemployed youth into productive technical and vocational roles.
• Steer young people away from negative activities by engaging them in positive, constructive projects.

Loan Features and Eligibility Criteria

Key Features of the Loan

• Loan Amount: Up to PKR 500,000/-
• Interest Rate: 0% (Interest-Free Loan)
• Repayment Duration: Up to 36 months
• Repayment Method: Monthly Installments
• Security: Social collateral (group or individual guarantees). Additional security may be requested based on risk assessment.

Eligibility Criteria

If you’re looking to apply for the Ehsaas Hunar Interest-Free Loan, here’s what you need to know to qualify:

• You must be a permanent resident of Khyber Pakhtunkhwa.
• A valid CNIC (Computerized National Identity Card) is a must.
• Your age should be between 18 and 40 years.
• You need to have a diploma or certificate from a recognized technical or vocational training institute.
• Being engaged in technical or vocational work as a skilled laborer is essential. – You should have the ability and willingness to run your own business.
• A satisfactory credit history is required, if applicable.
• It’s important to have a good social and moral standing in your community.
• You shouldn’t be a defaulter of any financial institution, which will be verified through a Credit Information Report (CIR).

Application Process: How to Apply?

Applying for the Ehsaas Hunar Loan is pretty simple. Just follow these steps:

1. Visit the Official Portal: You can submit your application online at rozgarforyouth.com or at designated centers.
2. Fill Out the Application Form: Make sure to provide your personal details, business plan, and loan requirements.
3. Submit Required Documents:
   • A copy of your CNIC
   • Your diploma or vocational training certificate
   • A passport-size photograph
   • A copy of your guarantor’s CNIC
   • A utility bill copy (if you have one)
4. Application Screening and Verification: Your application will be reviewed by the Project Central Committee (PCC) and the Project District Committee (PDC).
5. Loan Approval and Disbursement: Once approved, the loan amount will be transferred directly to your bank account.

Loan Allocation & Financial Breakdown

The Ehsaas Hunar Program is set to provide loans to 114,387 talented young individuals over a span of seven years, from 2024 to 2031. Here’s how the loan distribution looks for each year:

Benefits and Economic Impact

Let’s take a look at the expected benefits:

• Economic Boost: Imagine if every beneficiary brings home PKR 20,000 a month-this could lead to an impressive economic impact of over PKR 2.28 billion each month!
• Job Opportunities: This initiative sparks entrepreneurship, paving the way for thousands of new jobs.
• Empowering Skilled Workers: It offers financial support to graduates from TVET institutes, helping them put their skills to good use.
• Rise in Foreign Remittances: By assisting skilled individuals in finding jobs abroad, we can significantly contribute to our national foreign exchange reserves.

Conclusion

The Ehsaas Hunar Program 2025 is an exciting initiative designed to boost youth entrepreneurship by offering interest-free loans. With a focus on providing financial support, business mentorship, and creating job opportunities, this program aims to empower young people in Pakistan and foster sustainable economic growth. If you want to learn more or apply, head over to rozgarforyouth.com today!