Nawaz orders to observe 100pc transparency in ‘Business Loan Scheme’

ISLAMABAD: Prime Minister Mian Muhammad Nawaz Sharif has directed to guarantee 100 per cent transparency and merit at the administrative level in the ‘PM’s Business Loan Scheme’, which will be commenced from December 2, ARY News reported.

While chairing a high-level meeting on the Scheme in Islamabad on Thursday, PM Nawaz Sharif comprehensively briefed about the several segments of the scheme including training of the Bank employees, training of loan applicants, bank processes etc.
Nawaz Sharif said that Business Loan Scheme is the golden opportunity for the youth to enhance their future.

He further informed that about 50 per cent loans have been allocated for women‚ the preference will be given to well-educated class while 5 per cent quota has been reserved for widows‚ families of the martyrs and disabled.

During the meeting, Prime Minster warned that strong action will be taken against those, who found involved in any kind of corruption, as a strict monitoring  system would be placed to get rid of any kind of dishonesty in the process of loan distribution.

He announced that balloting for the Loan Scheme would be conducted on monthly basis and those applicants who fail to get loan at a balloting would be considered in the subsequent ballots.
He told application forms will be issued without charging a rupee to the applicants, that will be initiated from National Bank of Pakistan (NBP) and First Women Bank.

Nawaz Sharif said that any complain regarding the transparency of the Loan Scheme will be entertained on a toll free number 0800-77000.