KP govt to give interest-free loans to youth

PESHAWAR: The Khyber Pakhtunkhwa government has announced to initiate start-up programme aimed at providing loan without interest to the youth of the province for establishing their own business.

Senior Minister for Tourism and Youth Affairs Atif Khan and Finance Minister Taimur Saleem Jhagra co-chaired the meeting.

Secretary Finance Shakeel Qadir, Secretary Tourism Shahid Zaman and officials from the Bank of Khyber attended it. Under the initiative, the interest-free loan will be provided to the university graduates to start up own businesses.

The loan package ranges from five lakh to Rs3 million for the establishment of new business and strengthening an existing one.

Special persons, women entrepreneurs associated with the tourism sector would also be awarded loans.

In addition to this, micro-financing programme has also been launched for the uneducated youth.

Under a microfinance programme, 0.4 million will be given to help them stand on their feet.

On the occasion, Senior Minister Atif Khan said providing employment opportunities and extending support to youth was the top priority of the Pakistan Tehreek-e-Insaf government.

He said youth constituted a major part of our population and steps were needed to make their future safe.

Taimur Saleem Jhagra said to ensure transparency start-up programme would be launched on the model of KP Youth Impact Challenge in which experts would recommend award of the loan to youth.