More than 33,000 applications have been received, which fulfill the criteria of Prime Ministerís Youth Business Loan Scheme, being delayed mainly due to the government engagement in dialogue process with
According to the officials involved in the scrutiny of the applications in
Every application takes up to 15 days to check all details of the applicant and his/her guarantor and then it is sent to the head office of the NBP. The branch does not receive a loan application if it does not fulfil the criteria or misses some detail.
With just 12.52 percent applications from female candidates and 87.48 percent from males, Punjab remains on top, sending 24,902 applications for loan while 3,039 were received from KPK, 857 from
City-wise analysis of the loan applications shows that
Bank sources say more applications are coming from rural areas as compared to urban
About 65 percent applicants have sought loans for agriculture or agri-related and livestock business. Needless to say that livestock has greater potential for growth and has been growing much faster than crop farming for the last one decade.
Due to several harsh conditions, only 4,000 applications had been received. However, after removal of these conditions, 32,000 applications were received by the NBP within one month, the officials said. They said by the time the formal ceremony to approve loans is held, up to 50,000 applications might be received, which would be sent to the PM Secretariat in
PM Youth Business Loan Scheme aims at facilitating 100,000 youth by disbursing loans ranging from
The NBP officials said they were already encouraging agriculture-related loans as the bank was annually disbursing
The government introduced business loan scheme to create jobs as job market is extremely limited due to below 3pc economic growth rate for the last five years. The aim of this scheme is also to increase economic growth rate with the help of young people who can set up their own businesses.
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