Summary The issuance of loan will begin from third week of June.
ISLAMABAD (Dunya News) – Prime Minister Nawaz Sharif on Tuesday approved the dispersal of interest-free loans. According to the scheme, as many as 1 million persons will be given Rs 50,000 per head as interest free loan. The scheme will cost the government Rs 2.5 billion, Dunya News reported.
An important session chaired by Prime Minister Nawaz Sharif took place in Islamabad. Prime Minister approved the dispersal of the interest-free loan scheme proposed during the meeting. As many as 1 million persons will benefit this scheme.
Rs 50,000 per head will be given as interest free loan. The government has allocated Rs 3.5 billion for this scheme.
The loans will be given as per the National Finance Commission (NFC) award formula. The scheme will be initiated under Pakistan Poverty Alleviation Fund.
The issuance of loan will begin from third week of June.
Pakistan Muslim League Nawaz (PMLN) led federal government has been introducing entrepreneur-centric schemes in a bid to improve country’s economy.
A similar loan scheme targeting young entrepreneurs dubbed Prime Minister’s Youth Loan Scheme was started toward the end of last year. The scheme attracted huge number of applicants.
