Islamabad: Prime Minister Mian Muhammad Nawaz Sharif has inaugurated the loan scheme, bearing the title, ‘Prime Minister Youth Loan Business Program’ for the youth of the country. The inauguration took place at Islamabad, the country’s capital city. On the occasion, at the Prime Minister House, the PM said that on merit basis, loan would be granted to the deserving youths.
He said that rich, elite class people easily get loans. While, 11 crore remain devoid of financial assistance. ‘Seeing the educated young men in election campaigns was saddening’. There was no one to acknowledge or address their issues, he further said.
The PM said that Pakistan has earned name in corruption only. Former governments did not address any of the masses’ issues, he stated.
Nawaz Sharif said the failed State conditions makes convincing one to take over Prime Ministry position a difficult task. But to serve the masses, I have stepped forward to take the responsibility.
[junkie-alert style=”white”] Mr. Nawaz said that privatization of banks would contribute to earning benefits. He said that we look forward to enhancing trading ties rather than relying on foreign aids.[/junkie-alert]
Maryam Nawaz, daughter of the PM before the inauguration ceremony said that his father has full confidence in youth of the country. ‘Investment on youth of the country is in actual investment for country’s future’, she stated. Instead of being a burden on their families, youth would be able to earn their livelihoods, viewed Maryam Nawaz.
Conditions and Criteria for Applying For Youth Business Loan Scheme:
- Every month 15,000 applicants shall be entertained by the department
- 21-45 year aged young men can apply for the loan scheme
- No interest would paid by applicant in first year.
- 8 % interest shall be paid by the applicant while government will pay the rest 7 %.
- Download form from smeda.org
Eligibility Criteria:
- Pakistani nationals
- CNIC holders
- Domicile
The application forms are available from all 1400 branches of National and First Women Bank distributed nationwide including Baltistan, Azad Kashmir, Gilgit and Fata.
The eligible candidates can start off their business in 15 fields and provide employment to as many as 15 people.
Loan application forms are available on internet. The duly filled forms shall be scrutinized for their details. The application forms are free. However, at the time of submission, 100 Rs shall be paid.
Complaints regarding the scheme can be addressed through sms at 80028.
