Govt Officers to Receive Low-Interest Loans at 2% Markup
Wire desk byline Sourced from Xinhua, Dawn, Arab News, Anadolu and Minute Mirror. Translated and abridged by the GSRRA Desk.
The government has introduced a loan scheme for officers of Pakistan Administrative Services (PAS) and Provincial Management Service (PMS), allowing them to borrow funds at a minimal 2% markup.
A committee, chaired by Finance Secretary Mujahid Sherdil, has been formed to manage the program.
The initiative provides officers with significant financial support, with loan limits determined by their grade:
- Grade 17 officers can apply for loans up to Rs. 5 million.
- Grade 18 officers are eligible for up to Rs. 15 million.
- Officers in grades 19 and 20 can secure up to Rs. 20 million.
- Senior officers in grades 21 and 22 can borrow as much as Rs. 250 million.
The loans can be repaid through easy installments, ensuring affordability for those utilizing the facility. This program aims to offer financial relief and convenience to government officers across various levels.
Reference Link:- https://propakistani.pk/2024/12/21/govt-officers-to-receive-low-interest-loans-at-2-markup/
Zamir Ahmed Awan is the founder and Chair of the Global Silk Route Research Alliance, a think tank in Islamabad. He studied engineering at Shanghai University in the 1980s, and years later he went back to China as Pakistan's science counsellor in Beijing, from 2010 until 2016, working on science and higher education cooperation between the two countries.…
