Govt to grant loans of up to Rs 2m to youth at 8pc mark-up: Ishaq Dar

By
Umar.Saleem
-
10
169

Finance Minister Senator Ishaq Dar on Friday said that in the budget for 2013-14, a scheme enabling the youth to start their own businesses had been established whereby loans through the banking system would be made available in a transparent manner.
“Under the scheme loans ranging from Rs 100,000 to Rs two million would be available at a mark-up cost of 8 percent. The remaining cost of mark-up would be borne by the government. A sum of Rs 2 billion had also been earmarked for macro-finance to encourage small businesses,” Dar said while talking to a USAID delegation led by Director Gregory C Gottlieb.
He added that small and medium enterprises had a special place in the strategy being formulated by the government to revive the country’s economy.
Dar added that during the previous government of Prime Minister Nawaz Sharif, institutions like the Board of Investment (BOI) and Small and Medium Enterprises Development Authority (SMEDA) were established to encourage businesses in a conducive environment.
Furthermore, Dar said that the government intended to revamp the BOI with the objective of making it a one-window one-stop operation for investors. He added that the revival of SMEDA was also on the cards, with the aim to reconnect it with the private sector so that they could benefit from the institution via setting up small and medium term businesses. Gottlieb said that the USAID was ready to work with the Pakistani government and that it would provide technical and technological support to BOI and SMEDA. This would help enhance the capacity of these organizations and result in them playing an effective role in fulfilling their mandate, he added.

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10 COMMENTS

  1. Please let me know that when we will be able to apply for this loan scheme. The Prime Minister , in his last speech, told the youth that ,( NOJAWAANO APNI DERHAASTAIN ABI SAY TAYAAR KER LO)

    PLEASE WE ARE ON WAIT, JUST SPECIFY THE LIMITS THAT WHEN IT WILL BE STARTED
    THANKS

    • Please call the concerned department.
      But before that you have to have written plan.
      Where you are going to spend this money?
      Most important. What is the assurance you will not behave like mr Shujat HUSSAIN and Mr and Mrs Gillani, ex prime minister. They took the loans and never paid it back. You need more information , please google their name on google.com
      During Mr Musharaff time , he wrote off more than 100 billion worth of loans for almost 2500 people. That was the biggest high way robbery in the history of Pakistan.
      I do not know how much Mr Musharaff got out of it?

  3. Hahaha they are culprits and please take note that they will apply again and will never return it back. 🙂

  7. Please let me know that when we will be able to apply for this loan scheme. The Prime Minister , in his last speech, told the youth that ,( NOJAWAANO APNI DERHAASTAIN ABI SAY TAYAAR KER LO)
    how can i apply for this loan and which document required kindly tell us
    Regards

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