ISLAMABAD: Prime Minister Nawaz Sharif said on Friday that about 6,000 out of 38,000 applications for Prime Minister’s Youth Business Loan Scheme received so far have been approved; however‚ the target is to grant loans to about 100,000 youth in one year.
In his address to the participants of the first balloting of Prime Minister’s Youth Business loans in Islamabad on Friday, the prime minister said that the scheme is fully transparent and banks have been directed to record reasons for both acceptance and rejection of an application.
The prime minister said that diversion of financial resources to the youth is the first step towards fulfilling government’s determination of changing destiny of the nation. He expressed the confidence that those getting loans under the scheme will earn own livelihood and provide employment to others as well.
In addition, he said that activities to be generated under the scheme will help produce goods to meet domestic needs and enhance exports.
PMYBL: Sending out text msgs to all successful applicants. Their names would be given on websites.
— Maryam Nawaz Sharif (@MaryamNSharif) February 28, 2014