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PM Nawaz Sharif inaugurates Youth Business Loan Scheme
ISLAMABAD: PM Muhammad Nawaz Sharif has said that the government has opened new avenues for the youth to stand on firm footings. He said this while inaugurating the Prime Minister’s Business Loan Scheme for Youth in Islamabad.
He said that “during election campaign, I witnessed the vigor and enthusiasm that the youth showed and I promised that the government should empower the youth of Pakistan so that they can contribute effectively towards development of the country”. Prime Minister further said that “I decided to accept the heavy responsibility of forming government only for the youth and to solve their problems as they are the future of Pakistan”.
PM Muhammad Nawaz Sharif said that our government inherited huge problems including weak economy, power shortage, terrorism and law & order situation, but we accepted the challenge and immediately started working towards solutions. Government started new power projects, retired circular debt, initiated targeted operations against terrorists. However, time is required to see the results of our efforts on ground.
While addressing the youth, Prime Minister said that there would be complete transparency in the award of loans and an effective monitoring mechanism has been evolved to keep a check on loan award process so that merit is ensured. He further said that Rs. 100 billion has been allocated for this program during the current financial year and in the first phase one hundred thousand unemployed youth would be given loans through ballot. “No one, even myself would have the authority to influence the loan award process” said the Prime Minister. Youth will have 8 years payback time with first year grace period for re-payment.
Prime Minister said that Government reposes full trust on the youth of Pakistan and expects that the loans would be utilized effectively to generate business and employment opportunities. 50 % of the loans are allocated for the female youth. The Government is also announcing low-cost housing scheme for the poor very soon.
Earlier, the Honorary Chairperson of the PM Youth Program Ms. Maryam Nawaz said that the most important advantage of the PM Youth Program is that the youth would be converted from “dependents” to “providers”. She said that the PM entrusted me with the responsibility of empowering our youth and I gladly accepted because investing in youth is equal to investing in Pakistan’s development. The PM Youth Program comprises of 6 schemes including Business Loans Program, Micro Interest Free Loans Program, Skill Development program, Fee Reimbursement for deserving students Program and Training Program.
Ms. Maryam Nawaz further informed that 55 project pre-feasibilities have been prepared and are available on SMEDA website. However, if the applicant has his/her own business plan, that too would be acceptable for participation in the award process. The National Bank of Pakistan and the First Women’s Bank have been strictly directed to ensure complete transparency and merit.
Pakistan‚ Iraq to boost
bilateral trade, says Nawaz: Prime Minister Muhammad Nawaz Sharif has said that Pakistan and Iraq should fully exploit tremendous potential for promoting bilateral trade and economic cooperation.
Talking to the Speaker of Iraqi Assembly Osama Abdul Aziz Al-Nujaifi in Islamabad on Saturday‚ he said a stable and united Iraq is in the interest of the region as well as international peace and security.
PM Nawaz Sharif says a stable Iraq is in interest of the region as well as international peace and security. Prime Minister Muhammad Nawaz Sharif says Pakistan and Iraq should fully exploit tremendous potential for promoting bilateral trade and economic cooperation.
The Iraqi Speaker hoped that parliamentary relations between the two countries would further strengthen.
Meanwhile‚ the Iraqi delegation of women parliamentarians met with the members of Women’s Parliamentary Caucus in Islamabad.
The delegation was given a comprehensive presentation on conception‚ achievements and contribution of the Caucus in safeguarding women rights in Pakistan.
The meeting concluded with a joint agreement to work collaboratively on addressing the common issues faced by women of both countries. It was proposed that a bilateral forum of women parliamentarians from Pakistan and Iraq should be established which will also facilitate the Iraqi women parliamentarians in forming a body similar to WPC.
Prime Minster Business Loan Scheme Terms & Conditions for the Loan Approval Process