PM assures timely subsidy for banks providing loans to youth

ISLAMABAD: Prime Minister Imran Khan has reiterated his commitment to ensure timely provision of subsidy to banks, so that they are able to provide loans to the youth easily.

Addressing the presidents and heads of different banks during a meeting on Saturday, the Prime Minister said that the provision of easy loans to youth under Kamyab Jawan Entrepreneurship Scheme was necessary for the future of the country.

He said that the government will also ensure that problems faced by the banks are resolved on priority basis.

Lauding the bankers for their full participation and interest in the Kamyab Jawan scheme, he said after promotion of construction activities in the country, cooperation of banks in providing business opportunities to the youth is praiseworthy.

The premier expressed satisfaction over the transparency and mechanism of the loan disbursement programme to youth and praised the participation of banks. He directed the economic team for ensuring the uninterrupted disbursement of loans.

He said the cooperation of banks is very important to groom the skills of the young generation. He ordered authorities to ensure timely provision of subsidy to banks for loan disbursement besides resolving all issues on a priority basis.

Imran Khan said that youth could play an important role in stabilising national economy and the government is prioritising their assistance in construction, industries and information technology sectors.

Speaking on the occasion, Special Assistant on Youth Affairs, Muhammad Usman Dar, said that the government has allocated Rs100 billion for three years to provide better business opportunities to youth of country. He said that 470,000 applications have been received so far and loans are being provided after verification.

The meeting was also informed that 21 banks are participating in the scheme. The banks will provide loans of fifteen billion rupees this year. The meeting decided to set up a high-level steering committee under chairmanship of deputy governor of State Bank to ensure uninterrupted disbursement of loans and success of the scheme.

A progress report on Kamyab Jawan Entrepreneurship Scheme will regularly be submitted to the prime minister. The Kamyab Jawan programme was launched last year for the socio-economic development of the youth in the country.

The session was attended by the PM’s aide on Youth Affairs Usman Dar, Abdul Hafeez Shaikh, SBP governor, Abdul Razak Dawood, presidents and heads of different banks.