Punjab Government Plans To Launch Soft Loan Scheme For Youth

Punjab Government Soft loan for youth
Courtesy: Dunya News

One of the most criticized aspects of Pakistan is the lack of utilization of the talent. Our youth is talented and they want to bring a positive change in society but there is a constant lack of available opportunities. It is vital to empower the youth for the economic welfare of the country. The issue of lack of opportunities was identified by the Punjab Government and Punjab Minister for Industries and Trade, Mian Aslam Iqbal proposed the initiative of Punjab Government soft loan for youth!

Punjab Government Soft loan for youth
Courtesy: Lahore News

The aim of the Punjab government soft loan is to provide youth with the necessary means that are required to fulfill their dreams and use their talent in the most constructive manner. Based on the conditions formulated by the Punjab government soft loan project, any young person can get up to 3 million rupees. The paperwork has been compiled and completed, however, it will be launched formally by the PM Imran Khan. There are some policies and requirements for attaining the soft loans for youth that shall further be examined in detail.

Process Of Applying For Soft Loans In Pakistan

This initiative based on soft loans in Pakistan is a positive step towards the progress and development of the country. The individuals will be required to submit their business idea through an online application. It will be shared with the departmental committee and after the approval of the committee, the loan will be granted to the selected individual.

Soft Loans For Youth And Gender

The male aspirant will spend 30% by himself while the remaining 70% shall be provided by the Punjab government soft loan for youth scheme. It will be one of the best ways toward empowering the youth and making their dreams come true.

The female aspirant will spend 20% by herself. Can you believe that? Now, this is a good news. It is an exquisite step executed by the government to empower not only men but in addition to that, women are also given more preference so that they can come out to the front and use their talent.

Returns And Policies Of The Soft Loans

Once acquired, the borrower will then be exempted for 12 months from paying the installments. Also, the borrowed amount ought to be paid back in five years.

Futuristic Outcomes

This initiative will pave the way to a developed and economically stable youth! It will empower the youth while on the other hand, it will benefit the growth and development in Pakistan. Minister further concluded by saying: “Universities’ students and entrepreneur can also benefit from the scheme”.

We need to introduce these schemes on the national level so that the whole county can get the benefit of such initiatives.