AJK Government Announces Interest-Free Loans Up to Rs2 Million for Youth
Islamabad: The Azad Government of the State of Jammu and Kashmir has approved an interest-free loan scheme for youth, offering financing between Rs100,000 and Rs2 million to support new business ventures.
The scheme is open to male, female and transgender youth aged 18 to 40 who are state residents and interested in starting their own businesses. Following approval by AJK Prime Minister Faisal Mumtaz Rathore, the Small Industries Corporation has issued an official advertisement.
According to the announced details, application forms can be downloaded from the department’s official website and submitted until January 20. Skilled and highly educated applicants will be given priority.
The loans will be distributed in proportion to the population of each area, with no interest charged to beneficiaries. The AJK government will cover all interest costs. The loans will be issued in collaboration with the Bank of Azad Jammu & Kashmir.
Officials stated that the initiative aims to create entrepreneurial opportunities for young people and help them become economically self-reliant across the region.
