Government disburses Rs17.6b as part of youth loan scheme

Close to 62% of beneficiaries are female, recovery rate stands at 90%

APP January 06, 2017
Protesters said the government must reserve a quota for minorities in the loan scheme and relax the terms for them to empower minority youths. PHOTO: FILE

ISLAMABAD: Giving an update on the Prime Minister’s Youth Loan Programme, chairperson Leila Khan said that the government has disbursed Rs17.6 billion in 17,547 loan cases so far to ensure good opportunities of employment and economic empowerment.

Khan said on Friday that the recovery rate is 90% with 10% non-performing loan (NPL) ratio.

These are subsidised business loans at 6% mark-up for a period of eight years and are granted under the PM’s Youth Business Loan Scheme after satisfactory evaluation of borrower’s business feasibility by bank.

Millions embezzled in PM’s loan scheme

Similarly, under PM’s Interest Free Loan Scheme more than 250,000 interest free loans amounting to Rs5.6 billion have been awarded to the poorest of the poor in 427 Union Councils of 44 districts across Pakistan.

Around 62% of loan beneficiaries are female and recovery rate of the scheme is over 90%, she said in an exclusive interview with APP.

Disbursements under PM Youth Loan Scheme: NBP president advises government to be patient

Khan shared statistics of youth schemes under the programme which she termed as a remarkable initiative of the PML-N government for socio-economic development of youth in a bid to combat soaring unemployment in the country.

According to her, this programme has a broad canvas of schemes enabling youth and poor segments of population to get good opportunities of employment, economic empowerment and access to IT skills.

Published in The Express Tribune, January 7th, 2017.

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