Interest rate on youth loans slashed by half: Hafeez Shaikh

ISLAMABAD: In a major relief, Adviser to Prime Minister on Finance Abdul Hafeez Shaikh on Wednesday announced that the government has slashed interest rate by 50 per cent on loans to youth under ‘Kamyab Jawan Program’, ARY News reported.

Addressing a press conference in Islamabad, Hafeez Shaikh said that the government has provided over one billion rupees to 2,900 youths under the scheme. He maintained that 7,500 more youths will benefit from the scheme.

The adviser said that they will enhance the loans limit from Rs5 million to Rs25 million. Talking about the country’s economic situation, he said that the government effective measures bearing positive results.

He said that Moody’s had confirmed Pakistan’s B3 credit rating with a stable outlook which is major success for the government’s economic team.

Read More: PM Imran enhances Kamyab Jawan Program’s loan limit

Earlier today, in order to facilitate youth to go for big business ventures, Prime Minister Imran Khan had approved the expansion of the Kamyab Jawan Program.

The approval had been granted during his meeting with Finance Adviser Dr. Abdul Hafeez Sheikh and Special Assistant on Youth Affairs Usman Dar who had called on him in Islamabad.

During the meeting, the prime minister had ordered to enhance the loan facility for unemployed youth about five times the existing limit.

Speaking on the occasion, PM Imran Khan had said, “Youth is a precious asset of the country and the government will invest more in them.”