PM launches interest-free loan scheme

Nawaz says his party’s development agenda is also evident from their past tenures.

ISLAMABAD:

Prime Minister Nawaz Sharif has said that all political forces should join hands to achieve the development goals set out by the government.

This he said while addressing the launching ceremony of interest-free loan scheme at the PM Office on Thursday.

Nawaz said that their party’s development agenda is also evident from their past tenures. “Had our agenda been continued, Pakistan would have been far ahead in the communication and infrastructure sectors,” he added.

Citing the ground-breaking of Dasu hydropower project on Wednesday, the premier stated that their government’s plan is not only to increase the power generation but also to cut down the cost of electricity to provide affordable power to the consumers.

Nawaz said that the power generation sector has been neglected by successive governments due to which a ‘nuclear power’ has come to a stage that there is a power crisis in the country. He was of the view that by now at least ten dams should have been built to cater to the increasing electricity demands of the country.



The prime minister said their government wants to serve the people keeping aside political affiliations. “We have launched business loan scheme, fee reimbursement scheme and other development programmes for the youth of our country and there is no discrimination amongst the beneficiaries based on their association, relationship, or attachment to any person or party, their only qualification is eligibility and merit,” told PM.

Nawaz said, the interest free scheme is being managed by Pakistan Poverty Alleviation Fund, an independent organisation and 250,000 persons will get loan each year reaching a total of one million within 4 years. Giving the details about the loan scheme, the premier said that the loan amount would be up to Rs50,000 keeping in view the needs of the person, and there is no mark-up on the loan. “Half of the loans will be for the female population of the country.”

“I wish we had enough resources to give such loans to all such skilled and needy people, but we have taken a step in this direction,” Nawaz added.

Later, the prime minister distributed cheques among the deserving beneficiaries from District Haripur, and 175 of them received amount to the tune of Rs3.9 million.


Published in The Express Tribune, June 27^th, 2014.