20,948 trainees ben­e­fit from Youth Skills De­vel­op­ment pro­gramme Skilled labour force gets train­ing in 100 dif­fer­ent trades and now con­tribut­ing to lo­cal, int’l mar­kets

Pakistan Observer - - ECONOMY WATCH -

IS­LAM­ABAD—A to­tal num­ber of 20,984 trainees ben­e­fit­ted from the Prime Min­is­ter Youth Skills De­vel­op­ment Pro­gramme, Phase-II dur­ing the pe­riod from Au­gust 2015 to Fe­bru­ary 2016.

While around 24,831 trainees were given skills-based train­ing in dif­fer­ent mar­ket-ori­ented trades dur­ing the year 2014-15 in the first phase, an of­fi­cial source in­formed.

This skilled labour force af­ter get­ting train­ing in 100 dif­fer­ent trades is now con­tribut­ing in the lo­cal and in­ter­na­tional mar­kets for so­cio-eco­nomic growth of the coun­try.

Prime Min­is­ter Youth Skills De­vel­op­ment Pro­gramme is one of the six schemes ini­ti­ated by the gov­ern­ment for the up­lift of youth which com­prises a ma­jor chunk of the coun­try’s to­tal pop­u­la­tion.

Sim­i­larly, un­der Prime Min­is­ter’s Youth Busi­ness Loans Scheme, an amount of Rs7102.49 mil­lion was dis­bursed so far among the youth through ap­prov­ing around 16,000 loans.

The mark-up rate for bor­rower is be­ing low­ered from eight to six per­cent a re­duc­tion of two per­cent while Na­tional Bank of Pak­istan and First Women Bank Lim­ited, seven other pri­vate banks have also joined this Pro­gramme.

Un­der Prime Min­is­ter’s Youth Train­ing Pro­gramme, the gov­ern­ment is plac­ing 50,000 in­terns in dif­fer­ent pub­lic and pri­vate or­ga­ni­za­tions pay­ing the stipend of Rs12000 per month for a pe­riod of one year dur­ing the year 2015-16.

Un­der Prime Min­is­ter’s In­ter­est Free Loan Scheme, an amount of Rs3147.3 mil­lion has been dis­bursed among 1,49,763 house­holds till March 2106.

Un­der this scheme, in­ter­est free loans of Rs50,000 av­er­age size are be­ing made avail­able to both men and women from house­holds with a score of up-to 40 on the Poverty Score Card (PSC) and with lit­tle or no ac­cess to banks or mi­cro credit in­sti­tu­tions.

While un­der the Prime Min­is­ter’s Fee Re­im­burse­ment Scheme for Stu­dents of Less De­vel­oped Area, a sum of Rs5.0 bil­lion has been re­leased since its in­cep­tion in 2012.

Higher Ed­u­ca­tion Com­mis­sion (HEC) has suc­cess­fully paid around Rs3.90 bil­lion to 134,926 de­serv­ing stu­dents from less de­vel­oped ar­eas.—APP

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