Nawaz decides to go interest-free

• PM inaugurates Qarz-e-Hasana scheme, says 250,000 people to benefit each year
• Urges all political forces to join hands to achieve development agenda
• Premier says army will come out victorious against terrorists, urges masses to help IDPs

Vowing to serve the nation without any discrimination, Prime Minister Nawaz Sharif Thursday launched an interest-free loan scheme and said that Rs 2.5 billion would be spent annually on the government grants and in the next four years one million people would be able to avail the facility.

While addressing the launching ceremony of Qarz-e-Hasana Scheme at Prime Minister Office’s auditorium in Islamabad, the premier said that interest-free loan worth Rs 50,000 per person would form the backbone of the country’s economic stability and would be offered “indiscriminately” to all the citizens of the country on “relaxed conditions”.

The prime minister said the scheme was based on the principles of transparency and merit and was being managed by Pakistan Poverty Alleviation Fund. As many as 250,000 persons would get loan each year, reaching a total of one million within four years while Rs 3.5 billion has been earmarked for this year, he said.

“The per-person loan amount has been set keeping in view the needs of an individual and there is no mark-up on the loan! Around 50 percent of the loan would be for the female population of the country,” the PM added.

“I performed ground-breaking of 4,320 MW Dasu Hydro Power Project in Khyber Pakhtunkhwa yesterday which would be the largest power project in Pakistan in terms of its power generation. We also plan to construct 4,500 MW Diamer-Bhasha Dam. Our plan is not only to increase the power generation but also to cut down the cost of electricity to provide affordable power to the consumers,” the prime minister maintained.

The prime minister said that Business Loan Scheme, Fee Reimbursement Scheme and Skill Development Program had been launched for the youth of our country and there was no discrimination amongst the beneficiaries.

He said that the youth development schemes were his election mandate and he had fulfilled another promise made with the electorate.

“I wish we had enough resources to give such loans to all such skilled and needy people, but we have taken a step in this direction.”

Later, the prime minister distributed cheques among the deserving beneficiaries from Haripur, Khyber Pakhtunkhwa and 175 of them received amount to the tune of Rs 3.9 million.

A DECISIVE BATTLE:

Separately, while talking to a delegation of Pakistan Bar Council headed by Vice Chairman Ramzan Chaudhry who called on him at the Prime Minister’s House, Nawaz said that the government started negotiations to overcome terrorism but terrorists had themselves foiled the efforts for peace.

The prime minister highlighted the importance of the operation Zarb-e-Azb saying, “Now the whole nation stands united behind the Pakistan Army and we will come out victorious in this decisive battle against the terrorists. It is time that the whole nation stands united for the help of IDPs so that we collectively come out of the menace of terrorism to make Pakistan stand in the line of progressive nations.”

The premier further stressed that the revolution in Pakistan will come only through elections and the future of the land was associated with democracy only.