It was recently reported from Islamabad that the current Prime Minister of Pakistan, Mian Mohammad Nawaz Sharif, has approved an interest-free loan scheme. This means that the government is willing to disburse Rs 3.5 billion under a scheme where it is going to offer loans to different people (50 percent being women) across the globe.

It is being said that one million applicants, half of them being women, are going to be allowed to apply for this particular interest-free loan from all across Pakistan.

An official press statement released stated that the Prime Minister said, “I am convinced that if our youth are given proper guidance and financial support through micro credit schemes and better access to innovative technology, they can play their positive role in development of the country.”

The finance minister, Ishaq Dar, and the chairperson of the Youth Scheme, Maryam Nawaz, were both present during the meeting where Nawaz Sharif approved this loan scheme.

The Prime Minister spoke in favour of entrepreneurs and stated that such micro financing loan schemes are the catalyst for political and economic development and micro credit is the instrument that can change the cause of the poor segment.

On the other hand, the opposition (Pakistan Tehreek e Insaaf) has claimed that this particular loan scheme is only a gimmick played by the government. 

6 COMMENTS

  1. i am arif ali rao from Hasilpur district bahawalpur. i am MSc Chemistry and MBA in General Management and B.Ed. but i have no job, right now am teaching in a private school. i need 50000 loan for three year. i want to start my academy for titution purposes. waiting for your kind reply

  2. I am Monara Shehzad widow from university of Peshawar District Peshawar.I have one child. i belong a poor family and my parent can,t bear my expenses. in this regard i want to start a small business(Sewing stitching) for finical support. i need Rs50000/- loan for two year.An early response will be highly appreciated. Add. University of Peshawar cell: 0344-9025248

  3. Thank you for the news, can you help us also with the terms and conditions and the date and bank details??

  4. i am intermediat & have 7 years experince in marketing in cellular company but i have no job, right now am teaching in a private school. i need 1,0,0000 loan for three year. i want to start my own call centere for sales and marketing. waiting for your kind reply

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