Prime Minister Shehbaz Sharif has launched Youth Business and Agricultural Loan Scheme to promote self-employment and entrepreneurship amongst the youth.
Addressing the launching ceremony in Islamabad this afternoon, he said soft loans from 500,000 to 7.5 million rupees will be given to the youth under this scheme. He said youth can avail an interest free loan of up to 500,000 rupees, which can be paid back in three years, while loans from half a million to 1.5 million rupees will be given at the interest rate of just five percent that can be returned in seven years.
He said that an interest rate of seven percent will be charged on loans ranging from 1.5 million to 7.5 million rupees and this amount can be returned in eight years.
The Prime Minister said besides, we are going to distribute 100,000 laptops among the talented students across Pakistan. He said these laptops will be given on merit and in a transparent manner. He said he wants to provide more laptops to the youth, but financial constraints have become a hurdle in this way.
Reiterating the government's resolve to steer the country out of current economic crisis, Shehbaz Sharif expressed the commitment to complete 9th review of the IMF Programme. He said his government is ready to sit with the IMF team to negotiate to complete the ninth review, which is vital to put the economy back on track of stability and progress.