Over 8,000 youth from across the country have so far received loans under the Prime Minister’s Youth Business Loans programme to set up their own businesses.
According to a report quoting official sources, another 8,000 cases are in process on which the loans will be given within the next three months. About 50 per cent loan seekers are women under this scheme.
The loans amounting over Rs 7 billion have been disbursed by the National Bank and First Women Bank while Rs 300 million by the private banks. The recovery rate of the Youth Business Loans scheme is 97 per cent.
Meanwhile, under the Prime Minister’s Interest Free Loan scheme, loans have given to one 175,000 people so far. The loans under this scheme are being given in far-flung areas, including the Federally Administered Tribal Areas.
