Pakistan Observer

Youth Business loans   PM assures fairness in loans

Youth Business loans PM assures fairness in loans

Tariq Saeed

Thursday, January 16, 2014 - Peshawar—Calling upon the unemployed youth to take full advantage of the PM’s Youth Business Loan Scheme, Prime Minister Nawaz Sharif has declared the applications for business loans would be decided purely on merit basis regardless of the applicant’s affiliation with any political party or group. “The top government functionaries including even the prime minister would not be able to recommend a person seeking loan under this scheme”.

Premier Nawaz Sharif announced this while addressing a gathering of the loan seekers from Malakand division and Dir at Swat on Wednesday morning. Besides, a large number of youth, the function was also attended by the Governor Khyber Pakhtunkhwa Engineer Shaukatullah, Minister for Information Senator Pervez Rasheed, Minister for Religious Affairs Sardar Muhammad Yusuf, Advisor to PM Amir Muqam, Deputy Speaker National Assembly Murtaza Javed Abbasi and others. On this occasion the Prime Minister mixed up with several loan aspirants and inquired about their plans for business.

Nawaz Sharif said all provinces would get equitable share under the PM’s Youth Business Loan Scheme and the loans would be dispensed in accordance with the population ratio of each province.

“If the received applicants from a province are less in number, the other provinces would not fill the gap and instead the loans for that particular province would be transferred to next month”. Prime minister elaborated. He said share of each province has been fixed according to the ratio of population.

Nawaz Sharif said his government was determined to give utmost support and patronage to the youth of this country and as a prime minister it was his responsibility to ensure the implementation of this agenda. He, however, urged the youth to get self-reliant by prudently utilizing the business loans and contribute to the national economy.

Prime Minster Sharif also advised the youth of Khyber Pukhtunkhwa and particularly those belonging to Federally Administered Tribal Areas (FATA) to take maximum benefit from PM’s Youth Business Loan scheme as they had faced huge challenges in the recent past and rendered sacrifices for ensure lasting pace their area.

Nawaz said this was the first time that banks were catering to common people seeking loans adding that eighty per cent people in China, America, United Kingdom, France and Germany belonged to middle class who had a major contribution to the economies of their countries.

He declared in categorical tone that the applications for business loans would be decided purely on merit regardless of affiliation with any political group and neither prime minister nor a minister could recommend a person seeking loan under this scheme.

“I am personally monitoring the loan scheme and efforts will be made to further expand and improve this scheme to make it a success story”. Nawaz Sharif said adding certain conditions for the loans have been relaxed while reviewing matters relating to the loan guarantee.

Paying tributes to the people of Swat for rendering matchless sacrifices for the revival of peace in the area‚ the Prime Minister said the people of Khyber Pukhtunkhwa and tribal areas need this scheme the most to rebuild their lives hence the youth must take full advantage of Youth Business Loans to stand on their own feet and put their full share in the speedy development of the country.
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