Kamyab Jawan Program will now offer Utility Stores’ Franchises
All stakeholders agreed to finalize loans for the scheme, under the PM Kamyab Jawan program, after deliberations on the proposal.
The Federal Minister for Planning Development and Special Initiatives, Asad Umar, chaired a meeting conducted for establishing utility stores’ franchises across Pakistan under the PM’s Kamyab Jawan Program (PMKJP).
The Minister for Industries Hammad Azhar, SAPM on Youth Affairs Muhammad Usman Dar, The MD Utility Stores, and senior officials of the government attended the meeting.
In the meeting, Dar informed the attendees about the 250,000 applicants, who applied for loans under The PM Kamyab Jawan Program, and their interest in opening retail stores.
He was of the opinion that the loans under The PMKJP could be extended to already established franchises and could be utilized for setting up the new franchises under the umbrella of Utility Stores Corporation.
The Planning Minister, Asad Umar, said:
In collaboration with the Ministry of Industries, Phase-II of The PM’s Kamyab Jawan Program will provide loans for the establishment of Utility Stores’ franchises.
Asad Umar further explained the benefits of this initiative. He said that this initiative could ensure that loans are secured. Moreover, the utility stores can play an active role as market stabilizers. Though, he believes that Enterprise Resource Planning (ERP) is essential to attain these benefits, as ERP is a prerequisite of successful monitoring and running of such stores.
The Minister for Industries, Hammad Azhar, said:
My Ministry would assess the proposed plan of lending to about 1000 operational franchises under USC and work for presenting models for establishing new stores. The borrowing for opening franchises would be scaled up after the successful launch of the project’s pilot.
The meeting concluded with everyone on board. All stakeholders agreed to finalize loans for the scheme, under the PM Kamyab Jawan program, after deliberations on the proposal.
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