Pakistan Today

PM directs to accelerate application process under Youth Loan Scheme

Prime Minister Nawaz Sharif said that we have always focused our energies to enable the unemployed people to earn their livelihood in a respectable manner.

He said this during his visit to the head office of National Bank of Pakistan (NBP) at Karachi.

The prime minister said that our aim is to enable the marginalised segments of society, particularly the unemployed youth, to live with pride.

He was given a comprehensive presentation on Prime Minister’s Youth Business Loan Scheme. He directed the State Bank of Pakistan to conduct a fact-finding audit of the large number of cases rejected under the scheme by NBP in three days.

He said it is beyond comprehension that a significantly large number of applicants who are eager to make their living in a dignified manner are declined credit without any valid reason. He said this huge rejection needs to be justified, and added that we need to encourage our youth instead of frustrating them.

The prime minister said the scheme has been launched while maintaining utmost transparency and without any favouritism. He said we cannot afford unjustified delays in its execution.

Earlier, the prime minister was also briefed on the transformation in NBP and growth over the last three years. It was informed that deposits have raised and assets have increased in addition to higher profits.

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