MUZAFFARABAD: The government of Azad Jammu and Kashmir has approved a major interest-free loan scheme aimed at supporting young entrepreneurs across the region.
Under the new initiative, loans ranging from Rs 100,000 to Rs 2 million will be provided to eligible applicants.
According to an official announcement, the scheme is open to men, women, and transgender youth aged 18 to 40 who are permanent residents of AJK and wish to start their own businesses.
Following approval by AJK Prime Minister Faisal Mumtaz Rathore, the Small Industries Corporation has issued the formal advertisement.
Application forms for the loans can be downloaded from the Small Industries Corporation’s official website, and completed forms may be submitted until January 20.
Officials stated that skilled and highly educated youth will be given priority, while loans will be distributed based on population ratios. The loans will carry zero interest, with the AJK government covering all interest payments.
The scheme will be implemented in collaboration with the Bank of Azad Jammu and Kashmir, which will facilitate the release of funds.
The government says the initiative aims to create economic opportunities for young people and help them become financially independent.
