Government introduces several new schemes

Published: June 13, 2013

Under Small Business Loans Scheme loans ranging from Rs 100,000 to Rs 2,000,000 will be available at a markup cost of 8%. DESIGN-FAIZAN DAWOOD/FILE

ISLAMABAD: This past election was, in large part, about courting the youth vote. And now that they are firmly ensconced in the corridors of power, the PML-N government on Wednesday introduced several youth oriented schemes worth billions in the budget for the fiscal year 2013-14. Other schemes that have been introduced also target the poorer segments of society.

“Amongst all sections our population it is our youth that must not be struck with despair and despondency,” Finance Minister Ishaq Dar said in his budget speech to the National Assembly.

Dar said that these schemes were the fulfillment of promises Prime Minister Nawaz Sharif had made with theyouth during his election campaign.

Some schemes, like the oneyear internship programme, had also been introduced by the previous government. Other schemes, such as the laptops for the youth and housing for the poor (Ashiyana Housing scheme)were introduced by Punjab chief Minister Shahbaz Sharif, but will now be implemented on a federal level.

Prime Minister’s Youth Training Program

The first scheme is for those who have completed a 16-year degree program and are jobless. The same scheme had been launched and implanted by the previous government but it lasted for a mere two years.

All those who have completed a 16-year degree program and are below the age of 25 years will be eligible for selection under the scheme. A one-year training program will be designed for these graduates during which they will be entitled to a stipend of Rs 10,000 per month. The scheme will be administered by the ministry of education, training and standards for higher education.

Prime Minister’s Youth Skills Development Program

Under this program 25,000 young people up to the age of 25 and with the minimum qualification of middle school (eight grade), will be imparted training in a number of trades across the country. National Vocational and Technical Training Authority (NAVTEC) will manage the program in collaboration with provincial TEVTA authorities. Emphasis will be placed on such trades as are in demand aboard or will enable the graduate to become self-employed.

Small Business Loans Scheme

Under this scheme loans ranging from Rs 100,000 to Rs 2,000,000 will be available at a markup cost of 8%. The remaining cost will be borne by the government. In the first year of the scheme, 50,000 loans will be offered. The scheme will be strengthened in the light of experience gained in the first year of operation.

PM’s scheme for Provision of Laptop

All students pursuing a degree program from one of the HEC recognised universities or institutions and meeting the merit criteria to be developed by the HEC will be eligible to get a free laptop.

Fee Reimbursement Scheme for Less Developed areas

Under an existing scheme, bright student from less developed areas are provided tuition fee support while pursing higher education at masters’ and doctorate levels. Presently it is available to students from Balochistan, FATA, and Gilgit-Baltistan.

However, the government decided to include students from rural Sindh, Multan, Bahawalpur and DG Khan Division of south Punjab in this scheme as well, and they will be eligible for tuition fee support provided they fulfill the merit criteria.

PM’s Micro Finance Scheme

The finance minister says the purpose of this scheme was to enable men and women to undertake micro enterprise activities, and the government has allocated Rs 5 billion to launch a scheme of Qarz-eHasna (loans without markup) for this purpose. These will be made available through selected micro finance providers including Akhuwat, NRSP and Provincial RSPs. Fifty percent of

the beneficiaries of the scheme will be women.

PM’s Housing Finance scheme

Under this scheme, a mortgage facility of Rs 1.5 million to Rs 5 million will be offered at a markup rate of 8%. Fifty thousand people will benefit from the scheme.

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Reader Comments (24)

  • Jun 13, 2013 - 7:50AM

    All these schemes are useless and will keep Pakistan in the most corrupt nations on earth unless 6& to 8% of GDP budget is immediately announced to put into effect decades old unfilled law of Pakistan namely Article 25A that GUARANTEES must education for EVERY child in Pakistan. Why are all politicians constantly evading this law? I hope all the lawmakers come to the realization that common suffering man may be illiterate but NOW they have the cell or mobile and false promises of the past will not work.

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  • ArXhad
    Jun 13, 2013 - 9:24AM

    All these bits and pieces are tested and tried with different names and incentives. There is no significant relief for General Public at all. The steps taken at Macro level will definitely increase Inflation that will ultimately HIT the miseries’ of AWAM to new heights….. and these schemes for sure are not suffice even to curtail the additional Inflation impact. If Mian Sb and Dar sb have come up with cosmetic cut in his/their COST, ………. So called suggested and in good gesture………….if the same is to be included in Constitution that there will be no additional budget to any Public Office/servant/MPs and or any other Govt Official, we can save billions and that amount can be used to improve to AWAM life.

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  • rickvanholden
    Jun 13, 2013 - 12:06PM

    Implementation, my friend, thats whats missing.

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  • Jadoon
    Jun 13, 2013 - 4:38PM

    No point in dishing out loans to unskilled youth in an environment where even big businesses are struggling. Instead, improve the situation for economic activities. Jobs will be created and commercial banks will start giving much more efficient small loans.

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  • sadafshahzadi
    Jun 14, 2013 - 10:24AM

    tell me about prime minister”s 1 year training programe

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  • hina
    Jun 14, 2013 - 9:30PM

    plzzz tell me how to apply in 1 year intrnship programe …..Recommend

  • Jun 17, 2013 - 2:55PM

    Plzzz tell me about small bussiness scheme. and how to apply .thanx

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  • khawar naseem
    Jun 17, 2013 - 6:00PM

    all the schemes are mentioned are incomplete because there isnt any procedure to take benefits from tat mentioned schemes
    the officials are to b requstd plz mention the procedur to aply for tat wishing scheme

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  • Ayaz Akram
    Jun 19, 2013 - 8:19PM

    What is the procedure to get small business loans?

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  • Muhammad Ajmal
    Jun 23, 2013 - 11:26PM

    please anyone tell me the procedure to get youth business loan, because I am very needy.

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  • usman ali
    Jul 5, 2013 - 2:05PM

    please inform me about how to apply intrnship programe.
    and procedure to get youth business loan

    Recommend

  • Mohsin Raza
    Jul 8, 2013 - 6:12PM

    Dear sir,
    tell me how to apply for the youth internship program
    and tell me how to apply for the loan scheme.

    Regards,
    Mohsin Raza
    Recommend

  • Ghulam Mustafa
    Jul 12, 2013 - 8:45AM

    Dear Sir,

    Please inform me that what is the procedure to get small business loans?

    Recommend

  • farukh ali
    Jul 12, 2013 - 2:40PM

    please anyone tell me the procedure to get youth business loan,

    Recommend

  • farukh ali
    Jul 12, 2013 - 2:42PM

    please anyone tell me the procedure to get youth business loan, and internship program

    Recommend

  • Rana sajid
    Jul 18, 2013 - 11:18AM

    I have done MBA in marketing specilization and my age is 25 years and 3 month can i apply for internship or loan scheme please inform me how can i apply for this scheme ??

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  • Muhammad Umer Farooq
    Jul 18, 2013 - 6:55PM

    I have done M.com in Finance specilization( Faculty of commerce,Law,and Business Adminestration) and my age is 27 years and can i apply for Small Business loan scheme and i have 3 years+
    sales experience in Banking Sector please inform me how can i apply for this scheme ??

    Recommend

  • Zeshaan Iqbal
    Jul 20, 2013 - 9:43AM

    Dear sir,
    tell me how to apply for the youth internship program
    and tell me how to apply for the loan scheme.

    Recommend

  • Noman ali
    Jul 26, 2013 - 4:18PM

    please anyone tell me the procedure and qualification to get youth business loan,

    Recommend

  • Noman ali
    Jul 26, 2013 - 4:19PM

    please anyone tell me the procedure to get youth business loan,

    Recommend

  • waleed
    Jul 29, 2013 - 8:18PM

    how can i get small business loan?
    when does this scheme start?

    Recommend

  • Iram shehzadi
    Aug 1, 2013 - 1:29PM

    Pleas anyone tel me that How can i apply in Prime Minister’s Youth Training Program.

    Recommend

  • Iram shehzadi
    Aug 1, 2013 - 1:32PM

    Pleas tell me about prime minister”s 1 year training programe

    Recommend

  • Mehr
    Aug 11, 2013 - 9:49PM

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