Summary PM took the decision in a meeting held in Islamabad
ISLAMABAD (Dunya News) – Lashing out at the slow pace of the Prime Minister’s Youth Loan Scheme as highlighted in Dunya News show Dunya Kamran Khan Kay Saath, Prime Minister Nawaz Sharif on Thursday reduced the interest rate from 8% to 6%, Dunya News reported.
A high level meeting on Prime Minister’s Youth Loan Scheme – a project aimed to assist young entrepreneurs – presided over by Nawaz Sharif took place in Islamabad where he was briefed on applications submitted for the loan via National Bank of Pakistan (NBP).
PM Nawaz slammed the handlers for the slow pace and directed the president NBP to take steps to make the loan available to all eligible applicants. He said lucky draw is not needed for applications received under the NFC Award quota.
The reduction in the interest rate is applicable from July 2015 and those availing the loan facility already will also benefit from this reduction.
The meeting was attended by Finance Minister Ishaq Dar, Chairperson Youth Loan Scheme Laila Khan, Maryam Nawaz and Governor State Bank.
