ISLAMABAD: Federal Cabinet, which met under the chair of Prime Minister Imran Khan on Tuesday, approved 'Kamyab Jawan Program' to economically empower youth.Under the Kamyab Jawan Program&, a youth can get loan from Rs 100,000 to Rs million.
25 percent of the loan shall be granted to women.Briefing the media about the decisions of the cabinet, Prime Minister's Special Assistant on Information and Widecasting Dr Firdous Ashiq Awan has announced.Firdous said &Under the program, a youth can get loan from Rs 100,000 to R 5 million in two categories.
In the first category banks shall supply loan upto Rs 500,000 at six percent mark-up with lending fairness of 10 percent of the amount applied.&She added under the moment category, an applicant can get loan up to Rs5 million at a mark-up of eight percent and fairness ratio of 20 percent, Radio Pakistan reported.The program has been initiated to make youth self-employee and overcome inflation and joblessness.She went on to the cabinet also pondered upon the rupee depreciation and its affect on inflation.
The cabinet was informed that Prime Minister's Advisor on Finance Dr Abdul Hafeez Shaikh shall unveil a long term economic plan on Saturday.She said the cabinet also approved the decisions of final assembly of Economic Coordination Committee.TheIndianSubcontinent has not verified the content of the source.
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