Addressing to the nation on Government Television Channel (Pakistan Television), Prime Minister Mian Muhammad Nawaz Sharif announced several welfare schemes for Pakistan youth. After successful Laptop scheme in Punjab, the government of Pakistan seems to be serious in welfare of Pakistan youth. In the very first address to the nation, PM announced several schemes including interest free loans for youth. With allocation of twenty billion rupees (189.4 Million USD), PM has taken an initiative to create self-employment opportunities for the educated youth in regards to the fulfillment of election manifesto. The micro interest free loan will benefit 250,000 disadvantaged youngsters in Pakistan, and this small business targeted loans will benefit unemployed people in Pakistan. The interest free loan scheme will specially benefit educated youth of Pakistan.
Loans under this scheme range from 500,000 to 2 million rupees at the concessionary markup of 8 percent while the rest of the interest will be paid by the government. These loans will be advanced by the state owned banks in Pakistan. Along with the financial loans, some other schemes are also going to be introduced such as training youngsters who have completed their 16 year education from the recognized institutes that will make them secure their job at home and abroad.
50% of the loans will be given to the female applicants, while the Youth Skill Development is offered to both male and female passed their Secondary School education (Class 8th) along with 5000 rupees per month as scholarship.
See more Loan Schemes in Pakistan
Financial Support for Master Degrees and Higher Education
Prime Minister has also announced schemes for supporting students from backward areas, in these schemes students from rural areas will be entertained via paying them the tuition fees for their education. The government will pay 40,000 annual fees of thirty thousand students of Master Degree and Higher Education. This scheme will cost 1.2 billion rupees to the government.
PM Mian Nawaz Sharif has announced 4 billion rupees for the Prime Minister’s laptop scheme for provision of laptops to the intelligent students across the country. Under this scheme 100,000 students will be benefited. These laptops will be offered by Federal government, and the Provincial laptop schemes will be offered distinctly.
Prime Minister Nawaz Sharif has announced remarkable schemes for the Pakistan youth who can play a vital role in Pakistan’s economy and can bring Pakistan to self-reliance. This is a time for the youngsters to stand up and participate in the development and economic stability of their nation for the betterment of their home land, Prime Minister said “Stand Up with the aim to rewrite your destiny”.