PM approves Youth Business Loan Scheme; 50pc quota reserved for women

ISLAMABAD: Prime Minister Nawaz Sharif has approved the Youth Business Loan Scheme on Monday, 50 per cent quota of loan ranging Rs. 0.5 to 2 million is reserved for women, ARY News reported.

PM Nawaz Sharif chaired a meeting in Islamabad in which briefing regarding loan scheme conducted under which 350,000 youth would be given loans.

It was briefed in the meeting to PM that small business loans scheme will provide loans to the unemployed educated and skillful youth to establish or extend business enterprises to men and women aged between 20 and 45.

The prime minister was apprised that the net beneficiaries from the Business Youth Loan Scheme would be about 10 million people throughout the country.

Furthermore, PM Nawaz has directed to ensure complete transparency in the process of loan disbursement without any political or administrative influence and said the he personally monitor the loan scheme to avoid any discrepancy in it.

Loan scheme will be executed by the National Bank and First Women Bank under the command of State Bank of Pakistan.