HYDERABAD: Prime Minister Nawaz Sharif said “we need to rid Pakistan of the culture of nepotism,” adding that “sifarish is like a cancer that needs to be treated”.
Speaking in Hyderabad about the Youth Loan Business Scheme, the premier claimed the process of loan approval was free of nepotism. He added that “even my own recommendations will not influence the selection process of this scheme,” garnering applause from the audience.
Some children are not able to get an education because of a lack of resources, Nawaz said, adding that “the biggest obligation to facilitate [these children] lies with the government, but society should help as well.”
Addressing the scheme’s applicants, Nawaz said “I want your futures to be given back to you.” He said he wanted to speak to the applicants and learn more about them and what they plan to do with the loans.
Justifying the new loan scheme, Nawaz said banks offer loans to “baray log” but the poor and needy are not given such options.
Nawaz said those selected for this scheme will be expected to return the loan in eight years. The first year will be a grace period in which they will not need to return anything, he stated.
The scheme will not only benefit those who receive it, it will also increase available jobs and perhaps increase exports from Pakistan, the premier added.
“I hope to see the positive impact of this scheme in a year’s time,” Nawaz said.