The first balloting held recently also disbursed loans to the same number of men and women. The Youth Business Loan Scheme initiative differs from the previously failed schemes because it is being implemented through commercial banks who can take care of all aspects of the loans without political interference in line with the policies chalked out by the government.
Another aspect is government commitment to ensure the utmost transparency in advancing these loans to make sure that they are given only to the most deserving. The third salient feature of the scheme is the element of gender equality. These loans will range between five hundred thousand to
The Prime Minister announced the launch of six different schemes in
The launch of the interest free loan scheme targets the poor and underprivileged sections of society.
Similarly, the Fee Assistance Scheme for students from far-flung and comparatively less developed areas of the country aims not only to facilitate the youth of those areas to pursue higher studies unfazed by the paucity of resources, but will be a tremendous help to the concerned families as well. The Youth Skills Development Scheme that envisages the imparting of technical training to boys and girls who have studied up to the eighth level and on the job training for graduates with a monthly scholarship of
The status of the youth of a nation as architects of its future progress and prosperity, has unqualified universal recognition and that is why nations all over the world focus considerable attention on harnessing the potential of their young generations-their human capital--through imparting education and skill.
In most developing and poor countries, a lack of education, finances and technological skills are the biggest hindrances to gainful employment. Thus, growing un-employment amongst the youth not only affects the economic progress of that country but also unleashes disastrous consequences for the society in the shape of lawlessness and crimes.
The idea of targeting the youth from less privileged classes gained currency during the early 50's and became a wide spread phenomenon in the 80's. Now, it forms an integral part of any growth model in the developing world. The strategy adopted was to provide micro-credit to the youth for setting up their own businesses, small industries, improving their technological skills for enhancing their chances of employability, or pursing higher education. This is regarded as a very vital ingredient of sustained economic growth.
The package for the youth announced by the PML (N) government, is an imaginative move to tackle unemployment amongst the youth and enhances their skills and capability to engage productively in a national effort to change the socio-economic landscape of the country.
The country can move forward only when there are greater employment opportunities in the private sector.
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