Rs 100bln Loans To Be Given To 1mln Young People: Usman Dar

Muhammad Irfan Published September 26, 2020 | 07:30 PM

Special Assistant to Prime Minister (SAPM) on Youth Affairs Muhammad Usman Dar has said the government will provide Rs 100 billion loans to one million young people of the country

GUJRAT, (UrduPoint / Pakistan Point News - 26th Sep, 2020 ) :Special Assistant to Prime Minister (SAPM) on Youth Affairs Muhammad Usman Dar has said the government will provide Rs 100 billion loans to one million young people of the country.

He was speaking at the cheques distribution ceremony under the Kamyab Jawan Programme, here on Saturday.

He said that loans would be disbursed among 150,000 young people in Gujrat. He said the youth could avail loans from Rs 100,000 to Rs 1 million on personal guarantee.

The SAPM said that loans worth Rs 1 million to 10 million would be given at nominal markup rate of four per cent.

He said that all industrial related issues would be resolved on priority basis in the golden triangle comprising Gujrat, Gujranwala and Sialkot.

He said that one of the main focuses of the Kmayab Jawan Programme is cottage industry and small businesses.

He said that more than three lakh applications for loans had been received so far. In district Gujrat, 10,500 young people had submitted applications for loans, he added.

Usman Dar said that earlier only three banks were disbursing loans, but now 18 more banks have started providing the facility.

He said that a special desk under the Kamyab Jawan Programme might be set up at Gujrtat Chamber of Commerce and Industry. He said that members of the Gujrat Chamber would be given priority for allocation of loans.

Usman Dar believed that the small and medium enterprises (SMEs) sector could create a large number of employment opportunities. He said that 100,000 young people were being provided technical and vocational training in Gujrat.

The SAPM said that the PTI Tiger Force was providing invaluable services in the country. He said that the force members were pointing out various issues and problems in their respective areas.

He said under a policy, the young people were being made part of policy-making process. He said that the Tiger Force members were being provided all opportunities in business, vocational education and social activities.