ISLAMABAD, Pakistan: The Parliamentary Secretary for Finance Rana Muhammad Afzal has said that the banks are disbursing loans to the youth under Prime Minister Youth Programme as per set criterion and without any discrimination.
While responding to a Calling Attention Notice in National Assembly on Wednesday sponsored by Syed Naveed Qamar and four other Pakistan People’s Party (PPP) lawmakers, Rana Muhammad Afzal informed the House that loans are being disbursed to the youth under PM Youth Programme as per the laid down criterion following programme conceived by the government in 2013.
Rana Afzal said the programme launched in 2013 is meant for the unemployed youth and applications are entertained without any discrimination. He said that interest rate on these loans was fixed at eight percent which was later reduced to six percent.
The parliamentary secretary said that Rs 100 billion were allocated for such loans and only 17 percent of allocated amount has been utilized. Applicants should be qualified before banks and there is no discrimination at all in giving such loans.
To a question raised about agricultural loans, he said the present government approved Rs 500 billion for this purpose during the current financial year. He said no discrimination is being made in disbursement of loans amongst farmers of all the provinces.
The minister said that the federal Public Sector Development Programme (PSDP) has increased upto 129 percent and assured the lawmakers to review their complaints in case of any problem in issuance of loans.
