Pakistan

Govt to provide interest-free loans to skilled, unemployed youth

ISLAMABAD: The government will provide interest-free loans to skilled, deserving and unemployed youth on merit in each district throughout the country.

According to an official at Ministry of Human Rights, in the first phase, applications will be received from Lahore, Rawalpindi and Faisalabad districts by the end of this month.

He said the initiative will not only abolish the interest system but also enable people to earn livelihood for their families.


Read More: KP govt bans interest on private loans


According to figures released by the government, by February this year around 251,351 interest-free loans tantamount to Rs5.58 billion have been granted to poor under Prime Minister’s Interest Free Loan Scheme.

Official sources said Pakistan Poverty Alleviation Fund (PPAF) has been implementing the poverty alleviation scheme through its 26 Partner Organizations (POs) across the country.

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