*ISLAMABAD: The federal cabinet with Prime Minister Imran Khan in the chairapproved on Tuesday an ambitious programme titled ‘Kamyab Jawan’ to empowerthe youth economically.*
Speaking at a press briefing, the Prime Minister’s Special Assistant onInformation and Broadcasting Dr Firdous Ashiq Awan explained that under theprogramme, the youth will be able to secure a loan ranging betweenRs100,000 and Rs5 millions.
She said the programme has divided into two categories, adding under thefirst category banks will provide a loan up to Rs500,000 at six per centmark up with lending equity of 10 per cent of the amount applied.
Under the second category, an applicant can get a loan up to Rs5 million ata mark up of eight per cent and equity ratio of 20 per cent, she added.
Dr Awan said 25 percent of the loans will be granted to women under thescheme.
She said Minister for Federal Education and Professional Training gave adetailed and comprehensive briefing on a new education policy during thecabinet meeting.
She said the policy will be developed as per the mandate of the federalgovernment and necessary assistance and facilitation will be provided toprovinces for its implementation.
Dr Awan said the cabinet also pondered over the rupee depreciation and itsimpact on inflation. The cabinet was informed that Prime Minister’s Advisoron Finance Dr Abdul Hafeez Shaikh will unveil a long term economic plan onSaturday.
She said the cabinet also approved the decisions taken during the lastmeeting of the Economic Coordination Committee.