Prime Minister Muhammad Nawaz Sharif on Friday assured that the disbursements under Youth Business Loan Scheme would be made transparently and the violators of merit would be dealt with strictly. ”Neither me nor any authority in the National Bank of Pakistan can favour anyone to get loan under this scheme. I even do not have such powers,“ the Prime Minister said addressing the launching ceremony of the scheme here. Describing it as social cancer, he expressed the government’s resolve to curb favouritism, vowing to enforce the merit policy at all costs. The Prime Minister said he had envisioned the loan scheme during his previous tenure but it could not materialize as the government could not complete its term. He said the loan scheme would help boost the country’s GDP (gross development product) and support the families of borrowers as well as of those allied with their businesses. He recalled that the recovery rate of Yellow Cab Scheme was almost 99 per cent and hoped that the youngsters would also pay back this loan honestly.
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