Interest rate on youth loans slashed by half: Hafeez Shaikh

ISLAMABAD: In a major relief, Adviser to Prime Minister on Finance Abdul Hafeez Shaikh on Wednesday announced that the government has slashed interest rate by 50 per cent on loans to youth under ‘Kamyab Jawan Programme’.

Addressing a press conference in Islamabad, Hafeez Shaikh said that the government has provided over Rs1 billion to 2,900 youths under the scheme. He maintained that 7,500 more youths will benefit from the scheme.

The adviser said that the government will enhance the loan limit from Rs5 million to Rs25 million. 

Talking about the country’s economic situation, he maintained that the government’s effective measures were bearing positive results.

He said that Moody’s had confirmed Pakistan’s B3 credit rating with a stable outlook which was a major success for the government’s economic team.