Islamabad. Prime Minister Nawaz Sharif announced the launch of six schemes including easy business loans, laptops, education and training on modern lines with an aim to enable the youth of the country to stand on their feet besides helping to strengthen the economy.
In his second address to the nation, attired in traditional Shalwar Qameez and Waistcoat, Nawaz Sharif said that the government was going to materialize its program envisaged in the ruling Pakistan Muslim League-Nawaz manifesto.
He said the micro-interest free loan scheme is targeted at disadvantaged sections of the society and will benefit two hundred and fifty thousand people. An allocation of 3.5 billion rupees has been made during the current financial year.
The Small Business Loan Scheme has been designed for unemployed‚ especially educated youth to enable them to start their own businesses. Under the scheme loans ranging from five hundred thousand to two million rupees would be advanced to youth at concessionary mark up rate of eight percent and the remaining burden of the mark up would be borne by the government. Fifty percent loans would be given to women and initially these loans would be advanced by National Bank of Pakistan and First Women Bank. Five billion rupees have been allocated for the scheme.
The prime minister said under Youth Training Scheme those completing sixteen year degree education from recognized institutions would be given practical training to help those secure jobs at home or abroad.
For this on the job training, ten thousand rupees scholarship per month would be given for one year and fifty thousand graduates would benefit from the scheme. Four billion rupees have been earmarked for this scheme.