In a major relief for aspiring overseas workers, the Government of Pakistan has launched an interest-free loan scheme under the Prime Minister’s Youth Business and Agriculture Loan Scheme (PMYBALS) to support citizens seeking employment abroad.
According to a circular issued by the State Bank of Pakistan (SBP), the initiative is designed to ease the financial burden on thousands of Pakistanis preparing for jobs overseas. The loan will cover critical expenses such as skill development, visa processing, airfare, and initial settlement in the host country.
PM Youth Loan Scheme 2025 Highlights
- Loan Amount: Up to Rs 1,000,000
- Interest Rate: 0% (Interest-Free)
- Repayment Period: 5 years in monthly installments
- Loan Type: Jointly registered in the name of the overseas worker and a family member in Pakistan
Eligibility Criteria
To apply for this PM Youth Loan Scheme for overseas employment, applicants must:
- Be Pakistani citizens aged 21–45 years
- Possess a valid job offer from abroad or be recruited through licensed Overseas Employment Promoters (OEPs)
- Submit a job offer verified by Pakistan Missions abroad, OEPs, or Protector Offices
- Provide personal guarantees for loan security
To reduce risk for financial institutions, the government will cover 25% of the loan portfolio, ensuring greater confidence among banks to disburse loans.
Who Can Apply?
- Aspiring overseas workers
- Freelancers with international work contracts
- Candidates needing funds for skill training, visa fees, and travel arrangements
Applicants must also submit business plans or valid job offer letters to participating banks, which are listed on the official PMYP website.
Loan Reporting & Transparency
To maintain transparency, all disbursed loans will be reported to the Credit Information Bureau (E-CIB), ensuring responsible lending and repayment tracking.
How to Apply for PMYBALS Overseas Loan?
- Visit the PMYP official website
- Select the overseas employment loan category
- Submit required documents including:
- Valid CNIC
- Verified job offer or OEP documentation
- Nominee family member’s details
- Choose a participating bank and apply directly through their portal or designated branches
This initiative not only facilitates employment opportunities abroad but also strengthens foreign remittance inflows and economic growth. The government aims to empower youth and families by removing financial barriers that hinder overseas job placements.
For more updates and application guidelines, visit: https://pmyp.gov.pk
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