Jhagra says interest-free loans being extended to youths

PESHAWAR: Khyber Pakhtunkhwa Minister for Finance Taimur Saleem Jhagra has said the KP government has initiated various programmes through which the youth of the province have been provided financial support and interest-free loans to counter unemployment and boost economic activities.

“One of them is Khyber Pakhtunkhwa Impact Challenge programme which has enabled youth to start own business and provide employment to other people,” he added. “The KP Impact Challenge is a unique project for the educated unemployed youth. This is a step in the right direction to enable the talented youth to end unemployment in the province and become job providers instead of jobseekers,” he explained. These views were expressed by Khyber Pakhtunkhwa Minister for Finance Taimur Saleem Jhagra in an interview with LUMS. According to an official handout, he said small businesses were the heart of the economy as the economy primarily depends on small and medium-sized businesses.

He said large-scale businesses have a significant role in the economy, but these are lesser in number, small scale businesses create employment, generate money for the economy, and basically run the entire economy. The minister said in Pakistan the concept of entrepreneurship was being ignored, despite that through entrepreneurship people not only can run own businesses but also provide employment to others. He said the Khyber Pakhtunkhwa Impact Challenge project has promoted entrepreneurship, supported entrepreneur and it has brought entrepreneurship to the limelight. The minister said the ideas and passion of youth changed my own perspective, as many youngsters will find the ways and means to start their businesses themselves.

He said the important thing is to show a direction to the youth. The project has given hope to the people that their own small scale businesses can become successful. The project has provided an alternative and real opportunity to the youth with innovative business ideas, he concluded. It is worth mentioning that under the Khyber Pakhtunkhwa Impact Challenge programme boys and girls from all districts of Khyber Pakhtunkhwa from Chitral, Mansehra, Abbottabad to southern districts with innovative entrepreneurial ideas have been groomed, coached and developed by the leading business school of the country, LUMS, to turn their ideas into viable and sustainable businesses. After completing entrepreneurship training, these young entrepreneurs have been provided with a loan package of 500,000 to three million for establishing new businesses and strengthening the existing one.