Debunking Sharif's 'youth loan scheme'.

[Kompromat]

 

[VCheng]

So how do you propose a loan program should work without any collateral being put up, specially when there is lax enforcement of all laws?

 

[MrShabi2010]

Lol, who would bound lacs of rupees for a Poor Person? Ganja made this scheme for Rich People like his "Yellow Cab" Scheme.

 

[Jazzbot]

Plus there are a few other conditions which are ringing bells. For example, you have to show all your bank accounts and their details, and govt can withdraw any amount of money at anytime without notifying you. Similarly, govt can change the terms or rate of interest any time and you have no right to object.

PS: This is what I've heard, didn't try to confirm so maybe I'm wrong.

 

[MrShabi2010]

Plus there are a few other conditions which are ringing bells. For example, you have to show all your bank accounts and their details, and govt can withdraw any amount of money at anytime without notifying you. Similarly, govt can change the terms or rate of interest any time and you have no right to object.

PS: This is what I've heard, didn't try to confirm so maybe I'm wrong.

Yeah bro you're right. The bank can transact the amount with out your permission if the the "loan wala" didn't paid the instalment on time.

 

[Jazzbot]

Yeah bro you're right. The bank can transact the amount with out your permission if the the "loan wala" didn't paid the instalment on time.

If that's the case, then nobody should trust this ganja govt, remember that foreign currency freezing saga in 90's?

 

[MrShabi2010]

If that's the case, then nobody should trust this ganja govt, remember that foreign currency freezing saga in 90's?

Yeah man i do. I don't konw from where he comes up with the schemes like these. And tbh the Yellow Scheme was a full flop the Poor awam sold their taxis because they couldn't afford to maintain it. and now they've changed the colour to blend in with other Mehrans haha that's so funny. And the students sold their laptops for 20k even i bought one for my cousin.

 

[Kompromat]

So how do you propose a loan program should work without any collateral being put up, specially when there is lax enforcement of all laws?

Through HEC to high scoring graduates in Science and Engineering, Finance and Business fields. Give the loans to entrepreneurs with personal guarantees, low interest rate and long term settlement so they can create solutions and small/medium enterprises.

Sharif govt has created a fiasco out of 'peeli taxi' scheme. I know a few people who have turned their peeli taxi into a white car and are having a ball.

 

[VCheng]

Through HEC to high scoring graduates in Science and Engineering, Finance and Business fields. Give the loans to entrepreneurs with personal guarantees, low interest rate and long term settlement so they can create solutions and small/medium enterprises.

Sharif govt has created a fiasco out of 'peeli taxi' scheme. I know a few people who have turned their peeli taxi into a white car and are having a ball.

It is a good plan, but just how many good quality graduates per year are available in the fields that you mention? The number of young people joining the un- and under-employed categories is in the millions every year, raising social instability over the long run. The goal of such a scheme has to be able to address those numbers too.

 

[Kompromat]

It is a good plan, but just how many good quality graduates per year are available in the fields that you mention? The number of young people joining the un- and under-employed categories is in the millions every year, raising social instability over the long run. The goal of such a scheme has to be able to address those numbers too.

Sir our universities are not as good as the western universities not because we don't have talent but because they are short on resources and cannot spend much on research and development. Just look at the patent registration and PhD thesis being published out of Pakistan every year, the numbers are shameful.

What we need to do is to set up a fund like the one NS has set up, then get the universities to sign up. Wire it through HEC to high ranking unis like NUST,COMSATS, UET, LUMS, NUML, IST, QU, KU, GIKU etc. Filter the gradues, link them up with business universities to develop their business ideas into plans, then finance their efforts while they are at campus or after graduation.

Solution to Pakistan's economic issues is not simple but one great help can be made by creating an ecosystem that produces entrepreneurs, polishes their talent, makes products out of it and is able to sell them in the marketplace for a profit gain. You take unemployed people and turn them into employers through encouraging small, medium enterprise apparatus.

 

[VCheng]

Sir our universities are not as good as the western universities not because we don't have talent but because they are short on resources and cannot spend much on research and development. Just look at the patent registration and PhD thesis being published out of Pakistan every year, the numbers are shameful.

What we need to do is to set up a fund like the one NS has set up, then get the universities to sign up. Wire it through HEC to high ranking unis like NUST,COMSATS, UET, LUMS, NUML, IST, QU, KU, GIKU etc. Filter the gradues, link them up with business universities to develop their business ideas into plans, then finance their efforts while they are at campus or after graduation.

Solution to Pakistan's economic issues is not simple but one great help can be made by creating an ecosystem that produces entrepreneurs, polishes their talent, makes products out of it and is able to sell them in the marketplace for a profit gain. You take unemployed people and turn them into employers through encouraging small, medium enterprise apparatus.

So basically what you are saying to is to fund education, including higher education, much better, using these funds.

 

[Leader]

Plus there are a few other conditions which are ringing bells. For example, you have to show all your bank accounts and their details, and govt can withdraw any amount of money at anytime without notifying you. Similarly, govt can change the terms or rate of interest any time and you have no right to object.

PS: This is what I've heard, didn't try to confirm so maybe I'm wrong.

seriously?

anyway a better way would be either to support an existing sole proprietorship or a group of 3-10 students who want to set up a business, one of the partners in which would be the government, so that the money is secure and so is the business.

this is like a give away scheme too lenient in terms of education that is FA, and age uptil 45 years.

p.s. I am not at all against financial support for businesses. its a good initiative if goese on merit and produce results.

 

[Kompromat]

So basically what you are saying to is to fund education, including higher education, much better, using these funds.

Fund education + create and nurture an entrepreneurial ecosystem using whatever funds are at hand. We just have to make sure that this ecosystem is 'self reliant' and produces marketable equity, once this is achieved we wouldn't need to fund it anymore.

 

[VCheng]

Fund education + create and nurture an entrepreneurial ecosystem using whatever funds are at hand. We just have to make sure that this ecosystem is 'self reliant' and produces marketable equity, once this is achieved we wouldn't need to fund it anymore.

Nurturing the entrepreneurial system that you speak of needs much more than just funding to realize. It takes other infrastructure, an effective legal environment, good management, stable policies and sustained direction, all of which are utterly lacking still.

Let us discuss an example.

A hot shot student at NUST/GIKI/Genius Institute has come up with a brilliant new product idea that can convert plant cellulose into fuel so efficiently that it costs only half of oil based fuels. She has a working prototype in the laboratory. She walks into your office as Dean and lays out her plans, which include filing for patent protection and funding to scale up the idea to industrial production scale.

What is your advice to her and how will that advice pan out in real life?

 

[Jazzbot]