Subsidized loans under Kamyab Jawan scheme: BoP, Pakistan Post Office Dept sign MoU

LAHORE: The Bank of Punjab has signed a Memorandum of Understanding (MoU) with Pakistan Post Office Department (PPOD) for the provision of subsidized loans for Digital Franchised Post Office (DFPO) under the Prime Minister's Kamyab Jawan Youth Entrepreneurship Scheme to applicants shortlisted and referred by PMKJ-YES.

Under the MOU, PPOD will act as a lead generator for BOP while BOP would act as a mandate finance provider under PMKJ-YES to the applicants shortlisted and referred by PPOD for provision of subsidized loans. BOP will also impart any required training to PPOD for creating awareness among applicants shortlisted regarding PMKJ-YES and application submission for DFPOs.

The MoU was formally signed at the Postal Staff College Auditorium in Islamabad by Khawar Ansari (Group Head, Treasury & FI - BOP) and Rana Hassan Akhtar (Additional Director General Operations) of PPOD. Zafar Masud, President & CEO - The Bank of Punjab, Usman Dar - SAPM Youth Affairs & Murad Saeed - Minister for Communication & Postal Services were also present at the event to grace the occasion.

Speaking at the occasion, Zafar Masud, President & CEO, The Bank of Punjab assured BOP's firm commitment in supporting government's initiatives like Kamyab Jawan.

Usman Dar SAPM Youth Affairs expressed that this MoU will help to scale up and keep the process of loan disbursement transparent. This will also increase the employment opportunities for youngsters.

Murad Saeed, Minister for Communication & Postal Services also shared his views on the occasion and expressed that this MoU is a milestone in the launch of Digital Franchise Post Offices with track & trace system &eCommerce.-PR

Copyright Business Recorder, 2021