Pakistan: Interest-free loans for skilled youth
Wire desk byline Sourced from Xinhua, Dawn, Arab News, Anadolu and Minute Mirror. Translated and abridged by the GSRRA Desk.
Under this program, skilled youth of the province will be provided interest-free loans to start their own businesses.
The Technical Education and Vocational Training Authority (TEVTA) and the Bank of Khyber (BoK) on Thursday signed a memorandum of understanding (MoU) to provide interest-free business loans to skilled youth of the province under the Ehsaas Hunar Program of the Khyber-Pakhtunkhwa government.
Special Assistant to the Chief Minister on Technical Education, Tufail Anjum on this occasion said that the Ehsaas Hunar Program is a flagship project of the Chief Minister of K-P for the youth of the province.
Under this program, skilled youth of the province will be provided interest-free loans to start their own businesses.
The Special Assistant made the announcement at the signing ceremony of the MoU. Secretary Industry Amir Afaq, Managing Director of BoK, Managing Director of TEVTA, and other officials were also present.
The project will be implemented through the BoK. An amount of over Rs3 billion has been allocated for this project, while Rs200 million has been allocated for the year 2024-25.
Under this project, around 35,000 skilled youth of the province will be provided business loans.
Each qualified recipient will be provided an interest-free loan of up to Rs500,000, which will be repaid in 36 installments. Skilled residents of K-P between the ages of 18 and 40, possessing a skill certificate or diploma will benefit from this project.
Special Assistant for Technical Education Tufail Anjum said that the provincial government has formally launched the Ehsaas Hunar Program.
Reference link:- https://tribune.com.pk/story/2532765/interest-free-loans-for-skilled-youth
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.…
