6 Schemes of Prime Minister Nawaz Sharif – Details

Yesterday, Prime Minister Nawaz Sharif has announced 6 new schemes for the youth of Pakistan under Prime Minister Youth Program. It is estimated that these schemes will cost about Rs.20bn. All schemes are applicable to all provinces, Gilgit Baltistan and Azad Kashmir.

Here you will find the necessary details about these schemes.

Interest-Free Loans

3.5 Billion rupees have been allocated in the current fiscal year for interest-free loans to be given to poorest and needy people. About 0.25 million people will be benefited from this scheme.

Small Business Loans

The second scheme is for small business loans. This scheme is aimed for unemployed especially educated unemployed youth, who want to start their own business. 50 percent of loans are reserved for women. Markup will be applicable at the ratio of 8 percent. Initially, only the National Bank and First Women Bank will give these loans. 5 billion rupees are allocated for this scheme.

These loans should also be interest-free as it is not permitted in Islam.

Apprenticeship Scheme for Graduates

The third scheme is for educated youth who have completed 16 years of education. On the job training in national departments will be given to graduates. Rupees 10,000 per month stipend will be given to about 50,000 young people. 4 billion rupees are reserved for this scheme.

Vocational Training Scheme

800 million rupees are kept for this scheme. Girls and boys, up to 25 years age, will be given free education in vocational and technical institutes. Rs.5000/month will also be given to the selected candidates. Education requirement for selection is the only middle.

Payment of Education Fees for Students of Under-developed Regions of Pakistan

The 5th scheme is about payment of college/university fee of students of under-developed regions of Pakistan by Government. Government of Pakistan will pay the fee of students of M.A., M. Sc. level and upper classes. 1.2 billion rupees are kept for this plan. Average annual fee/ scholarship of Rs. 40,000 per annum of about 30 thousand students will be paid through this scheme.

Laptop Scheme

Laptop scheme of Punjab Government is now also launched on the federal level. 100 thousand laptops will be distributed among students of Pakistan. Amount of Rs.4bn is reserved for this scheme.

For more details, visit Prime Minister’s Office Islamabad Website:
www.pmo.gov.pk

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