ISLAMABAD, Pakistan: The federal government has paid an amount of Rs 9.5 billion to 401,120 individuals including 64 percent female borrowers under Prime Minister Youth Programme’s (PMYP) in Interest Free Loan Scheme.
According to available data out of total individuals, 60,000 borrowers are also the beneficiaries of Benazir Income Support Programme (BISE).
The scheme has excellent 99 percent recovery ratio.
It is pertinent to mention here that the PMYP, launched in 2013, has left an indelible impression on the socio-economic landscape of the Country ranging from poverty alleviation to entrepreneurship development and from skill development to internship opportunities for the talented youth.
It has a broad canvas of schemes, aimed at enabling youth and poor segment of society to get good employment opportunities, secure economic empowerment, acquire skills needed for gainful employment, have access to higher education and IT tools, access to on the job training and internship for young graduates to improve the probability of getting a productive job.