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KP govt approves Rs.3.8 billion interest-free loan: Youth Loan

The KP government has issued Rs 3.8 billion in interest-free loans to young people. This program on youth loans has been announced with special emphasis on young people from the combined/merged areas.

The decision was taken at a meeting led by the Additional Chief Secretary, Shakeel Qadir Khan at the department of Planning and Development. The meeting was also attended by the Secretary of Culture, Tourism, and Leisure and the Director of Bank of Khyber.

Any 3,500 enterprises in the province would reap from the interest-free loan program to 10,500 families directly.

A two-billion-dollar innovation fund for startups, youth, and women will be launched and a 1.8-million-dollar network for youth economic uplifting will be created. Youth in merged regions will have two components of their youth programs.

The meeting also announced a 25% allowance for access to easy loans that would help them start their own businesses, allowing them to support their families by new opportunities in sales. The Youth Loan program will give them a preference to women, aggressors, refugees, and special persons.

This project has now been adopted by the Provincial Growth Working Party (PDWP) and will be published shortly by public notices.

Moreover, in preparing the young people who will receive loans, the KP administration will enlist the assistance of industry experts, corporate analysts, and advisors from the manufacturing, services, and business sectors.
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