PM launches interest-free loan scheme
An interest-free loan scheme has been launched which will provide growth opportunities to thousands of people across the country. Prime Minister Nawaz Sharif announced that Rs2.5bn would be spent annually on the government grants and in the next four years one million people would be able to take advantage of the facility.
The Rs. 50,000 per person interest-free loan would go a long way in forming the backbone of the country’s economic stability, it is hoped. The loans are also being offered on relaxed conditions, which mean that the applicant would not be required to present any guarantor or collateral to get the loan. This would enable all those who had been unable to acquire loans from banks to borrow money.
The Prime Minister has also said that the loans will be offered to all the citizens since his government has made a commitment to serve the nation regardless of whom they voted for and even those holding protests would get the loans. The loans would be provided to those who have not taken any loans in the past and 50 per cent of the recipients would be women. Nawaz Sharif said he wanted women to develop and contribute to the betterment of society.