Islamabad (13th May 2014): Prime Minister Nawaz Sharif has approved the interest free loan scheme through which a grant of Rs. 50,000 will be provided to the young people. The decision of provision of interest free loans was taken in a high level meeting held at Prime Minister House, Islamabad.
Rs. 3.5 billion will be disbursed among youth and one million people will get benefit. This amount will be utilized by them to start small businesses.
Prime Minister Nawaz Sharif was given a detailed briefing on the micro-finance scheme today. This loan will help the young people to improve their social life.
Each province will get a proper share in this loan scheme as as has been decided in NFC award formula by all the provinces.
Interest Free Loan Scheme will start from the third week of June.