Sat. Aug 13th, 2022

PM announced 20 bn rupees package for youth

ISLAMABAD, Sep 21 (APP): Prime Minister Muhammad Nawaz Sharif on Saturday announced a development package worth Rs 20 billion for the country’s youth comprising six projects,aimed at providing them assistance mainly through affordable education, soft loans and skill-based training. The six projects include Micro Interest Free Loans Scheme, Small Business Loans Scheme, Youth Training Scheme, Youth Skill Development Scheme, Fee Assistance Scheme and PM’s Scheme for Laptops Provision, said Nawaz Sharif in his televised address to the nation. He said the government was committed to the uplift of youth. “I am sure that a self-reliant and prosperous youth will prove as a vanguard in the nation’s journey towards national integrity, prosperity and sovereignty.”
The Prime Minister announced that the six development schemes would be applicable for the youth of four provinces, Azad Kashmir and Gilgit Baltistan.
The federal cabinet had approved the basic features of these programmes and the system for their implementation was also in place.
He said,however,to ensure more transparency, clarity and merit in these schemes, it was his desire to seek guidance from general public.
He said input on these schemes could be given at the website,, being uploaded on September 23.
A special mobile number ‘80028’ had also been dedicated for this purpose to which suggestions could be sent through SMS.
He said the details of these schemes would also be circulated through national media including newspapers and television channels.
Nawaz Sharif said the general public was welcome to send their written proposals addressed to the Prime Minister’s Office,Islamabad.
He said 10-days had been allocated for collection of suggestions and recommendations,and said he would not be satisfied until receiving an ample response from youth on the schemes meant for their prosperity.
The schemes would be launched soon after working on the proposals and giving them a final shape.
He said Rs 20 billion allocated for the schemes for youth was not a big amount, however the limitation of resources owed to the severe economic problems of the country.
The issues including electricity shortage,the projects about construction of roads, motorways, hospitals and setting up of industrial units needed large monetary resources.
He expressed hope that a time would come when the tax payers’ money would be largely spent on the welfare projects.
He vowed to allocate more funds for the schemes of public importance in coming years.
About the first scheme,Prime Minister Nawaz Sharif said the ‘Micro Interest Free Loans’is especially focussed upon the financially weak segments of society.Under this scheme, a total of Rs 3.5 billion would be earmarked in the current financial year, which would benefit about 250,000 people.No interest would be charged on these loans.
He also announced Small Business Loan Scheme exclusively for the educated youth willing to initiate their private businesses.
The Prime Minister said 50 percent loans would be specified for the women.Under this scheme,skilled individuals would get loans worth Rs 0.5 million to Rs 2 million each to help start their work in agriculture sector or to open the workshop.
“The markup rate on this loan would be 8 percent as the remaining would be borne by the government.Initially,the National Bank of Pakistan and First Women Bank will extend this loan,” said the Prime Minister, adding that the government had allocated Rs 5 billion for the scheme.
The third initiative,he said was Youth Training Scheme under which the youth having completed 16-year education from accredited educational institutes would be provided training so that they may find suitable job opportunities locally or abroad.
He also prayed that every citizen may get job opportunity in the country without going abroad.
The Prime Minister said during the on-job-training,the youth will be paid Rs 10,000 stipend monthly for one year and Rs4 billion have been allocated for the scheme that would benefit around 50,000 graduates.
Under the Youth Skill Development Scheme, he said youngsters would be trained to help them earn their livelihood respectfully.The youth aged upto 25 years and with education upto eighth grade would be entitled to avail this facility.
“These youths will be trained for six months and will be paid Rs5,000 monthly as stipend.However the charges of the traininginstitutes will be borne by the government,” he said,adding Rs 800 million have been specified for the purpose.
The fifth scheme is about providing assistance to youth of underdeveloped areas for their tuition fees.He said the government had decided not let any talented youth remain uneducated if his parents were unable to meet his educational expenses.
The government would pay for the tuition fees of all such deserving students at masters level and above. For this purpose, an amount of 1.2 billion have been allocated which would cover the expenses of some 30,000 students with an average of Rs 40,000 yearly.
Under the Prime Minister’s Scheme for Provision of Laptops, one million students would be given laptops with an amount of Rs 4 billion reserved for the project.
The Laptop Scheme, which was first introduced in Punjab, had been extended to across the country in view of the importance of information technology.
Despite paucity of resources and myriad economic issues, certain programmes were being initiated which would open doors of opportunities to the weak segments of the society especially the youth.
“The main idea behind the programme is to increase the self-dependency of the youth and provide them job opportunities.The job opportunities in government sector have been shrinking continuously and in Pakistan,these opportunities are also on the wane when compared with the population increase,” he said.
The Prime Minister lamented that billions of rupees could be saved which have been going down the drain due to loss incurred by the national institutes.
Such a saved money should be spent on public welfare,education and job opportunities of the youth,he said,adding that he had already stated that every year,they have to pay Rs 500 annually to meet the losses of the government run entities.
“This amount of Rs500 will be available to the government which would be spent on the historic steps for a glorious future of the down-trodden strata of the society and the youth which would bring social and economic revolution.”
He said that one of the reason for malfunctioning of the government run institutes was the unnecessary inductions done on the political basis.
Inductions on favoritism has eroded the merit and these institutes have now been reeling under such unnecessary provisionof jobs.The examples of PIA, Pakistan Steel Mills and Pakistan Railways were before the nation and these national institutions were given Rs 500 billion to meet the losses, he added.
The Prime Minister said in presence of strong private sector,the people especially the youth, were given opportunities to earn their own living,so that instead of running from pillar to post for seeking jobs,they could eke out for their families.
He said these were the promises PML(N) made during election campaign and it wanted a system in which youth could earn by itself and help others.
He said it was their government, which has a strong will and confident that Pakistan would soon overcome its problems. Economy of Pakistan should be strengthened in such a way that it did not require loan and foreign aid.
Announcing the initiatives of his government,he said that keeping these objectives in mind, the government has decided to start such schemes.

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