Rs10b to be spent on PM's loan scheme

Around 250,000 people will receive loans each year under this scheme for the next four years.

ISLAMABAD: The prime minister, while addressing a press conference in regard to development projects of the Pakistan Muslim League-Nawaz (PML-N), said that Rs10 billion will be spend on the PM's loan scheme, also known as the Qarza-e-Hasna scheme. 

Under the loan scheme, 250,000 applicants will be able to attain the loans each year for the next four years. Prime Minister Nawaz Sharif also stressed on how the scheme will benefit women.

"Out of those people who attain these loans, 500,000 of them will be women," he said.

"It is essential to work towards the development of the country; it is important for [women] to move forward and build society," he added.

Furthermore, he said that "there will be no mark-up on these loans".

"This is the first government to launch such a loan scheme," the prime minister said, adding that the development schemes will benefit everyone in the country -- including those who hold dharnas against the PML-N government.