Peshawar: KP has launched the second phase of its Insaf Rozgar loan scheme to assist the youth, the province, and the news source. PKR 1 million will be given to the youth without markups, and offered for up to PKR 700 million to be spent on new businesses.
Addressing the launch event, KP CM Mahmood Khan said the distribution of interest-free loans to the community’s youth would create an entrepreneurial spirit.
KP Minister Taimur Jhagra stated that the government is doing everything it can to assist youth in the merged subdivisions to receive an interest-free loan from the Ministry of Finance’s Social Finance First Development (in Pakistan on one side and the ShP 2bn ($247 million) in another). Jhagra added that the Bank of Khyber will carry out the advertisements and facilitate youth development as much as possible.
Under the Insaf Rozgar Scheme initiated by KP, all KP citizens can take out loans, which they use to start businesses anywhere in the country. Significantly, announced the PKR 0.5 billion funds allocated for newly merged tribal districts as part of the scheme in 2019.
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