The federal cabinet has approved the ‘Kamyab Naujawan’ (successful youth) programme under which the youth will be given loans between Rs 100,000 to Rs 5 million on easy terms and conditions.
Special Assistant to the Prime Minister (SAPM) on Information and Broadcasting Firdous Ashiq Awan, who made the announcement following a federal cabinet meeting in Islamabad on Tuesday, also fired another broadside at the opposition following talks of joint nationwide agitation against the Pakistan Tehreek-e-Insaf (PTI) led government.
“The opposition is like a bullet that has been used; akin to a spent cartridge,” said Awan. She also reiterated the government’s resolve to overcome the ongoing economic difficulties through long-term solutions for sustainable change.
Speaking about former premier Nawaz Sharif, she said the Pakistan Muslim League-Nawaz (PML-N) leader had a unique malady ‘which leaves without a trace as soon as he reaches his residence but attacks him with full intensity every time he is behind bars”.
PTI govt to disburse Rs 200 b under new youth loan scheme
The special aide also shared details of the prime minister’s project for the youth, which she said would help them to start their own businesses and help generate jobs and boost economic growth.
“More than 65 per cent of the population is between the ages of 18 and 35,” she said talking about the youth bulge. Women, who are 52 per cent of the population, would be among the beneficiaries of the programme with 25 per cent of the allocated amount reserved for them, she explained.
Dr Awan said loans between Rs 100,000 to Rs 500,000 would be given to youth on six per cent interest and equity of Rs 50,000. “Loans more than Rs 500,000 to Rs 5 million would be lent on eight per cent mark-up with 20 per cent equity paid by the applicant,” she said.
The programme would bring an economic revolution as youth would be self-employed and able to finance themselves, thus reducing inflation and unemployment, she observed. She added that the SAPM on Youth Affairs Usman Dar would brief the media about the salient features of the programme in the coming days.
Special Assistant to the Prime Minister (SAPM) on Information and Broadcasting Firdous Ashiq Awan, who made the announcement following a federal cabinet meeting in Islamabad on Tuesday, also fired another broadside at the opposition following talks of joint nationwide agitation against the Pakistan Tehreek-e-Insaf (PTI) led government.
“The opposition is like a bullet that has been used; akin to a spent cartridge,” said Awan. She also reiterated the government’s resolve to overcome the ongoing economic difficulties through long-term solutions for sustainable change.
Speaking about former premier Nawaz Sharif, she said the Pakistan Muslim League-Nawaz (PML-N) leader had a unique malady ‘which leaves without a trace as soon as he reaches his residence but attacks him with full intensity every time he is behind bars”.
PTI govt to disburse Rs 200 b under new youth loan scheme
The special aide also shared details of the prime minister’s project for the youth, which she said would help them to start their own businesses and help generate jobs and boost economic growth.
“More than 65 per cent of the population is between the ages of 18 and 35,” she said talking about the youth bulge. Women, who are 52 per cent of the population, would be among the beneficiaries of the programme with 25 per cent of the allocated amount reserved for them, she explained.
Dr Awan said loans between Rs 100,000 to Rs 500,000 would be given to youth on six per cent interest and equity of Rs 50,000. “Loans more than Rs 500,000 to Rs 5 million would be lent on eight per cent mark-up with 20 per cent equity paid by the applicant,” she said.
The programme would bring an economic revolution as youth would be self-employed and able to finance themselves, thus reducing inflation and unemployment, she observed. She added that the SAPM on Youth Affairs Usman Dar would brief the media about the salient features of the programme in the coming days.
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