Alvi calls for facilitating AJK, G-B youth

President Dr Arif Alvi has stressed the need for facilitating the country’s youth, particularly from Azad Jammu and Kashmir (AJK) and Gilgit-Baltistan, to benefit from the Prime Minister’s Youth Entrepreneurship Scheme (YES).

“In order to empower the youth financially, the PM’s Kamyab Jawan Programme offers tremendous economic opportunities and the youth are required to capitalise on them by availing loans to establish their own businesses,” he said while presiding over a meeting to help address the issues being faced by the youth of AJK and G-B in getting loans on Wednesday.

Special Assistant to PM on Youth Affairs Muhammad Usman Dar and Bank of Punjab President Zafar Masud were in attendance at the Aiwan-e-Sadr.

While AJK PM Sardar Abdul Qayyum Niazi, G-B Chief Minister Khalid Khursheed Khan, Alfalah Bank President Atif Bajwa, JS Bank President Basir Shamsie, National Bank of Pakistan President Arif Usmani, and Habib Bank Limited Head Consumer Aamir Kureshi attended the meeting via a video link.

The PM’s aide on youth affairs briefed the president about loans disbursed under YES.

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Officials said that Rs19.1 billion worth of amount had been disbursed among the youth – out of the approved loan of Rs26.2 billion – to establish their businesses. They informed that the YES had created more than 30,000 jobs in various sectors.

Dar also gave details of the disbursed amount by various banks – including Bank of Punjab, JS Bank Limited, National Bank of Pakistan, Bank Alfalah Limited, and Habib Bank Limited. “Such banks had disbursed loans among youth worth Rs4.8 billion, Rs3.5 billion, Rs2.4 billion, Rs1.7 billion and Rs1.6 billion respectively,” according to a statement issued by the President’s Secretariat.

The AJK prime minister and G-B chief minister highlighted the issues being faced by the youth in availing loans under YES.

Various measures to educate and guide the youth to benefit from the loans scheme were also discussed during the meeting, it read.

The president advised the governments of AJK and G-B to establish facilitation centres in their respective areas to help facilitate the youth in getting loans. He also stressed the need for creating awareness among the youth by engaging media and local political leaders.

The president also asked the heads of five banks to establish facilitation desks to guide the youth in getting loans. “It was agreed to hold monthly meetings to review progress with regard to the disbursement of loans in AJK and G-B,” it read.