Punjab government launches unprecedented soft loan scheme worth billions for students
*LAHORE: **Punjab government launches unprecedented soft loan scheme worth billions for students.*
The Punjab government is planning to initiate a soft loan project of Rs6.3 billion under which students from technical institutions of public and private colleges would get funds for business purposes.
Punjab Minister for Industries, Commerce and Investment Mian Muhammad Aslam Iqbal revealed this in the Punjab Assembly while responding to a query of the Pakistan Muslim League-Nawaz’s (PML-N) MPA Sohaib Ahmed Malik over the future of those students who are getting technical education from different institutions being run by TEVTA.
During the question hour session, the minister responding to a query of another MPA, revealed that the government is initiating a new ‘Hunarmand programme’ under which 13,000 people will be taught Chinese language free-of-cost.
The provincial minister, shedding light over technical education, claimed the loans ranging from Rs100,000 to Rs3 million, would be given to the people to run their businesses.
He said the government would give 80% capital while 20% would be included by the debtors from his own pockets. Similarly, the government would give capital up to 90% to women and the rest 10% would be included by the women from their own resources.
Operational charges of 7% will be issued to men while 6% to women. He said the previous government had not collected the data of those students who got education from said technical institutions.