ISLAMABAD: Parliamentary Secretary for Finance Rana Muhammad Afzal Khan informed the National Assembly on Wednesday that three million applicants had so far applied for the Prime Minister’s Youth Loans Scheme.
Responding to a calling attention notice by Mahreen Razaque Bhutto, Imran Zafar Leghari, Abdul Sattar Bachani, Shazia Mari and Nafisa Shah, he said the condition of providing guarantor was the requirement of banks. The government facilitates the youth by sharing their loan, he added.
The members had drawn the attention of goverment towards the mandatory condition of providing guarantor to obtain loan under the Prime Minister’s Youth Programme.
The Parliamentary Secretary said the government had taken all possible step to make the scheme transparent and a success. Under the scheme, 100,000 people would be given loans.
He expressed the confidence that the scheme would generate economic activity and promote small industries. The loan scheme was the first of PML-N government’s six schemes to be launched for the youth, including Karz-e-Hasna, Laptop and Fee Reimbursement schemes and Skill Development programmes.
He said the scheme was launched after reviewing the different ones introduced by the past governments.