Govt Offers Interest-Free Loans for Pakistanis Going Abroad for Work
To support overseas employment, the government has launched a new interest-free loan scheme under the Prime Minister’s Youth Business and Agriculture Loan Scheme (PMYB&ALS).
Who Can Apply?
- Pakistani citizens aged 21–45 years
- Must have a valid job offer abroad or recruitment through a licensed Overseas Employment Promoter (OEP)
Loan Details
- Loan amount: Up to Rs 1,000,000
- Purpose: To cover training, visa, airfare, and initial settlement costs
- Repayment: Within 5 years in monthly installments
- Interest rate: 0% (completely interest-free)
Other Conditions
- Application to be submitted jointly with a family member in Pakistan
- Must provide a personal guarantee
- Government will cover 25% of loan risk
- Loans will be recorded in the Credit Information Bureau (E-CIB)
Documents Required
- Job offer letter (authenticated by Pakistan Missions abroad, OEPs, or Protector Office)
- Business plan or job offer for freelancers or workers
- Valid CNIC, passport, and other identity proofs
Where to Apply
- Apply through participating banks listed on the official PM Youth Program website
