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Government Announces Rs 3.8 Billion Interest-Free Loans for Youth

Peshawar: The administration of Khyber Pakhtunkhwa declared that it would provide 3.8 billion rupees in interest-free loans to the province’s youth.

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An official statement claims that the project will help more than 10,500 households and 3,500 companies.

The planning and development department’s meeting, which was presided over by assistant chief secretary Shakeel Qadir Khan, approved the youth loan programme.

Mohammad Abid Majeed, the secretary for youth affairs, and the managing director of the Bank of Khyber were present during the meeting.

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A Rs. 2 billion “innovation fund for entrepreneurs, youth, and women” will be implemented as part of the initiative, and a Rs. 1.8 billion “start-up programme for the economic uplift of youth” would be offered to the youth of merging areas.

The provincial government will hire experienced professionals, business experts, and specialists from the manufacturing, services, and trading sectors to train the youth who will receive loans, support the development of business plans, and provide incubation support so businesses can start operating, it was also decided at the meeting.

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