PM launches in­ter­est-free loan scheme

Enterprise - - National News -

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.

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