The Federal Cabinet has approved 'Kamyab Jawan Program' to economically empower youth.
This was announced at a media briefing by Prime Minister's Special Assistant on Information and Broadcasting Dr Firdous Ashiq Awan in Islamabad this afternoon.
She said under the program, a youth can get loan from 100,000 to five million rupees in two categories.
She said under the first category banks will provide loan upto 500,000 rupees at six percent mark-up with lending equity of 10 percent of the amount applied.
Under the second category, an applicant can get loan up to five million rupees at a mark-up of eight percent and equity ratio of 20 percent, she added.
Dr Firdous Ashiq Awan said 25 percent of the loan will be granted to women to make youth self-employee to overcome inflation and joblessness.
She said Minister for Federal Education and Professional Training gave a detailed and comprehensive briefing on new education policy.
She said the policy will be developed under the mandate of the Federal Government and necessary assistance and facilitation will be provided to provinces for its implementation.
The Special Assistant said the cabinet also pondered upon the rupee depreciation and its impact on inflation. The cabinet was informed that Prime Minister's Advisor on Finance Dr Abdul Hafeez Shaikh will unveil a long term economic plan on Saturday.
She said the cabinet also approved the decisions of last meeting of Economic Coordination Committee.
Firdous Ashiq Awan said Prime Minister Imran Khan has reiterated his resolve to overcome the economic difficulties of the people through long-term policies.
She said the cabinet has also given the approval for constituting the Local Government board and appointment of the Vice Chancellor of Shaheed Benazir Bhutto University Islamabad.
Firdous Ashiq Awan said the Prime Minister has also directed the parliamentarians to remain active in their respective constituencies to ensure the provision of all commodities in the month of Ramazan.
Replying to a question, she said the government has fixed 100 billion rupees for Kamyab Noujwan Program under this year budget which will be increased in coming years.
To another question, she said the opposition should consult courts for any complaint against NAB instead of propagating propaganda.