Vice President, SAARC Chamber of Commerce and Industry , Iftikhar Ali Malik has called for due participation of private sector for making the Prime Minister’s Youth Business Loan Scheme very successful and role model for the future. “We are the businessmen. We can better guide for the best possible use of this business loan amount,” Malik said while talking to reporter here. Malik also offered that the applicants who are granted this loan will be provided short trainings and orientation at the private sector’s facilities/ industries to make these loans very productive and help the educated youth to emerge as successful businessmen of the country. “It would be more proper and productive to first give orientation and basic training to these youngsters before providing them with money from the national exchequer,” Malik maintained. For better and safe utilisation of the Prime Minister’s Youth Business Loan Scheme, Malik suggested that boards should be formed- starting from the main cities down to the town level in the country. These boards should have at least one representative of FPCCI or any chamber associated with FPCCI on the recommendation by FPCCI. Malik, who is also the former president Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and leading exporter, urged the Government to divert most of this business loan fund to rural areas of the country to discourage migration of the rural population to the urban areas in search of business or employment. The youth should be guided and facilitated to start their businesses near their door step. The focus should be on the projects of agriculture, value-addition of agriculture products, livestock, fish and cattle farming, and other rural based projects. He called upon the Government to hold seminars, presentations and workshops in collaboration with the chambers and trade bodies throughout the country for the youth interested to start their business through the PM’s Youth Business Loan Scheme. He offered that FPCCI Head Office and its zonal offices besides the chambers’ premises will be available for these seminars etc. He said the private sector will also contribute to this national cause by giving apprenticeship to these would-be businessmen youth at their factories and businesses. The senior businessman called for strict checks and transparent and simple policy and procedures for sanctioning and monitoring of the use of these loans so that any possible mis-use be checked. Malik also praised the Government’s scheme for giving loans to students and called for increase in the amount for each student.
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