Under the auspices of Prime Minister’s Youth Programme, Rs. 5 billion Prime Minister’s Youth Business Loans’ cheques will be disbursed among the successful entrepreneurs by the Primer Muhammad Nawaz Sharif in a ceremony scheduled tomorrow (4th June, 2014), at Islamabad.
Chairperson of the Prime Minister’s Youth Programme Mohtarma Maryam Nawaz revealed this while chairing a high-level meeting to finalize the arrangements for disbursing of loans among the successful young beneficiaries.
The meeting also approved to hold the 2nd hi-tech digital balloting to be inaugurated by the Prime Minister Mohammad Nawaz Sharif to select 6000 potential young borrowers to benefit from the Prime Minister Youth Business Loan Scheme (PMYBLS), tomorrow.
Addressing the participants of the meeting, the Chairperson said that 100% transparency and merit was ensured by the lending banks in processing the loan applications and maintained that all the loans were awarded on sound business feasibility and without any political or social prejudice. She further maintained that the present democratic government is determined to fortify the economic base of the country by involving young entrepreneurs through PMYP and added that the scheme would further enrich the unprecedented economic activity started in the country after the present democratic government took to power last year.
The meeting was told that under the PMYBLS, 50 % quota has been reserved for women borrowers where as 5% for the widows, disabled and families of Shaheeds who lost their lives in the terrorism incidents. The successful women entrepreneurs who applied under the women quota from GB and AJK would also be disbursed the loan amount.