Technical Education and Vocational Training Authority (TEVTA) Chairperson Irfan Qaiser Sheikh has said that TEVTA would increase the interest-free loans amount for its pass-out students from Rs 500 million to Rs 1000 million.
While addressing a meeting of TEVTA officials on Monday at TEVTA Secretariat, he said that a huge amount of Rs 2,000 million was being spent on infrastructure and now the same amount is being spent on human development.
The TEVTA has decided to double the amount of interest free loans to TEVTA graduates as per the vision of Punjab Chief Minister Shehbaz Sharif, Irfan said. He further said that making youth of Punjab skilled and providing them a reasonable opportunity to earn money through interest-free loans was the priority of Punjab government. TEVTA was playing its part in this regard at its best, he said.
He said that till now, TEVTA in collaboration with Akhuwat Foundation has provided interest-free loans to more than 7000 students.
He added that Japan and Turkey had provided such loans to its students for helping them in establishing their own set up. “Everyone can witness where these both countries stand globally,” he added. He said that in Canada, a skilled person is getting salary of seven times greater than a simple graduate.
Irfan said that by getting these loans, students will play their part in strengthening the economy of the country besides they will also able to bear expenses of their families, adding that all loans will be provided to students on merit.
