May 22, 2019: The Federal Cabinet has approved 'Kamyab Jawan Program' to economically empower youth. This was announced at a media briefing by Prime Minister's Special Assistant on Information and Broadcasting Dr. Firdous Ashiq Awan in Islamabad.
Under the program, a youth can get loan from 100,000 to five million rupees in two categories. Under the first category, banks will provide loan up to 500,000 rupees at six percent mark-up with lending equity of 10 percent of the amount applied, whereas under the second category, an applicant can get loan up to five million rupees at a mark-up of eight percent and equity ratio of 20 percent, she added.
She said that 25 percent of the loan will be granted to women to make youth self-employee to overcome inflation and joblessness.
The Special Assistant said the cabinet also pondered upon the rupee depreciation and its impact on inflation. The cabinet was informed that Prime Minister's Advisor on Finance Dr. Abdul Hafeez Shaikh will unveil a long term economic plan on Saturday.
She said the cabinet also approved the decisions of last meeting of Economic Coordination Committee.
She said Prime Minister Imran Khan has reiterated his resolve to overcome the economic difficulties of the people through long-term policies.
Firdous Ashiq Awan said the Prime Minister has also directed the parliamentarians to remain active in their respective constituencies to ensure the provision of all commodities in the month of Ramazan.