ISLAMABAD, Feb 09 (APP): Prime Minister Shehbaz Sharif on Thursday directed the authorities concerned to make all out efforts to achieve Rs 30 billion loan target under Prime Minister Youth Loan Scheme by end of June this year.
The prime minister who chaired a review meeting on the PM Youth Loan Scheme, instructed to resolve all operational issues regarding loan scheme on priority.
The prime minister said that the government was taking remarkable steps for promotion of entrepreneurship and employment among youth. Besides the provision of easy loans to youth was also being ensured.
He said the youths were an asset for Pakistan and country’s progress was linked with their welfare.
The prime minister also set up a steering committee under him to examine the performance and pace of the youth loan scheme. The finance minister will also be part of the committee.
He said the Pakistani youths were rich with immense potential with high morale and if provided with resources, they could change the country’s fate.
The PM Youth Loan Scheme is aimed at promoting entrepreneurship & creating gainful employment opportunities for the youth. People aged between 18 & 45 years can apply for loans on easy terms & conditions. There is a 25% quota for women. 2/2 https://t.co/yIEnxLskxy
— Shehbaz Sharif (@CMShehbaz) February 9, 2023
He said that the collaborative work of the public and private sectors was essential to cope with the prevailing challenges.
The meeting was told that starting from 2013, around 54,000 youths had been extended loan facility worth Rs73.55 billion. A portal for youth loan scheme was also launched on January 24, 2023.
Under the scheme, people from 18 to 45 years of age can get easy loans within 45 days. 25 percent quota has been allocated for women.
The heads of participating banks and microfinancing institutions ensured to achieve the loan targets within the timeframe.
The prime minister also formed a committee to address the operational issues regarding the loan scheme.
The committee would comprise State Minister for Finance Ayesha Ghaus Pasha, SAPM Shiza Fatima, federal secretaries for information and poverty alleviation, founder of Akhuwat Foundation, State Bank Governor presidents of National Rural Support Program, Bank of Punjab, Habib Bank Limited, Zarai Taraqqiati Bank and Bank Al Falah.
The meeting was attended by SAPM on Youth Affairs Shiza Fatima and heads and representatives of banks and microfinancing institutions.
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